Proprietor of the EF Schooling-TIBCO-SVB ladies’s professional biking workforce, To the High Biking LLC, has confirmed to Cyclingnews that its two legacy companions, TIBCO Software program and Silicon Valley Financial institution, is not going to renew sponsorship on the finish of 2023 on account of what the workforce have known as “latest financial challenges and occasions”.
The 2 co-title sponsors’ resolution to not renew funding comes after the sudden collapse of Silicon Valley Financial institution in March. The financial institution’s mother or father firm, SVB Monetary Group, then filed for chapter safety, and the financial institution was taken over by the Federal Deposit Insurance coverage Corp.
“I can’t thank TIBCO and SVB sufficient for his or her superb assist through the years. Our partnerships survived every part from the 2008 recession by means of the COVID pandemic,” stated Linda Jackson, founder and president of To the High Biking LLC.Â
“TIBCO and SVB’s long-standing assist for ladies’s sports activities is a testomony to their dedication to ladies within the office. The bounce to World Tour standing required a major improve of their monetary sponsorship. The integrity and dedication of each TIBCO and SVB have been made clear by their continued funding of our workforce by means of the 2023 season, regardless of dramatic monetary and financial turmoil.”
Referred to as the longest-running ladies’s workforce in North America, the workforce succeeded for nearly 20 years due to their enterprise give attention to ensuring its sponsor’s enterprise goals had been being met by means of this system.Â
The workforce engaged not simply to check, refine, and promote biking merchandise; however on broader gross sales, enterprise improvement, advertising and marketing, and variety and inclusion initiatives for TIBCO Software program and Silicon Valley Financial institution.
The workforce originated out of a neighborhood bike store in Palo Alto and have been the house workforce for riders like Brooke Miller, Megan Guarnier, Skylar Schneider, Lauren Stephens, Kendall Ryan, Lex Albrecht and Alison Jackson, simply to call a couple of.Â
Linda Jackson’s mission because the workforce started 19 years in the past was to present alternatives for ladies to compete in world-class biking and of their pursuit of racing on the Olympic Video games. Her aim has been to steadily enhance the workforce with out shedding give attention to its developmental roots.
The workforce at the moment consists of 16 riders; Zoe Bäckstedt, Elizabeth Banks, Femke Beuling, Letizia Borghesi, Krista Doebel-Hickok, Veronica Ewers, Kathrin Hammes, Clara Honsinger, Alison Jackson, Emma Langley, Sara Poidevin, Omer Shapira, Abi Smith, Lauren Stephens, Magdeleine Vallieres and Georgia Williams.
All athletes are contracted with EF Schooling-TIBCO-SVB by means of the tip of 2023, apart from Veronica Ewers, who signed an extension by means of 2025.
“I’m extremely pleased with what we achieved with TIBCO and SVB over nearly 20 years. We grew from a neighborhood workforce sponsored by Palo Alto Bicycles to a World Tour workforce with EF Schooling that simply gained Paris Roubaix, the hardest race on the earth. Over nearly 20 years, we developed quite a few nationwide champions and helped dozens of girls obtain their targets of competing on the prime stage of the game,” Jackson stated.
“Our riders had been in a position to compete on the world championships, the Olympics, and the primary ladies’s Tour de France in over 30 years. Extra importantly, the workforce constructing and management abilities and confidence that these ladies developed by means of their success in biking will stay with them for the remainder of their lives.”
EF Schooling joined Jackson’s programme as a co-title sponsor originally of the 2022 season, which helped the workforce attain its targets of achieving a coveted spot on the Girls’s WorldTour with a UCI WorldTeam licence.Â
This yr, the workforce has had distinctive success, with Alison Jackson profitable Paris-Roubaix Femmes. The aim for this season was for the workforce to place themselves among the many top-five groups on the earth rankings.
Jackson famous that EF Schooling’s extra funding for the programme and advertising and marketing energy has been what she has known as a game-changer for its advertising and marketing and social media presence.Â
“I’d prefer to thank EF for serving to us get to the WorldTour. The lack of TIBCO and SVB going ahead is actually difficult, however I’ll proceed to discover choices for To the High Biking,” Jackson stated.
“I’ve a really quick window to do that, nevertheless, as crucial factor to me is that my riders discover spots on different WorldTour groups if I can’t present for them. We’re arising on an Olympic yr, and that’s going to be essential for them.”
Tom Berquist, CFO of Cloud Software program Group, added that he’s pleased with the success the workforce has had below the three title sponsors.Â
“The partnership between TIBC0 Software program and EF Schooling-TIBCO-SVB represented the perfect collaboration amongst two groups striving for pace whereas constructing profitable cultures that embraced the talents, passions, and efficiency of various teams of people. We want Linda and the workforce the success that they’ve earned, and we might be rooting for them on the highway.”
