Danish investment bank Saxo Bank says it is pulling out as the main sponsor of Danish cycling team Saxo Bank.
Saxo Bank chief executive Lars Seier Christensen says the bank would stop sponsoring the team by the end of 2010. The Danish Internet-based bank became sponsor in 2008 for a three-year period.
Seier Christensen said Friday the sponsoring had been "fantastic" for the general branding of the company but "had not been optimal to reach the bank's narrow target group."
