Cycling: Red Bull to become the majority shareholder (51%) of the German team BORA-hansgrohe

The Austrian Federal Competition Authority has been notified of the "indirect acquisition of a controlling interests of 51% in RD pro cycling GmbH & Co KG and RD Beteiligungs GmbH (owner of the professional road cycling team BORA-hansgrohe, UCI WorldTour) by Red Bull," announced the regulatory body on 02/01/2024.

An announcement confirmed the following day by the cycling team read: "Red Bull is planning to expand its involvement in road cycling and is aiming for a partnership with BORA-hansgrohe. By becoming a partner in Team Manager Ralph Denk's operating company, Red Bull strives to complement the team's portfolio of existing long-term main sponsors, who will remain on a long-term basis. The planned joint venture has been notified to the relevant antitrust authority."

The German team, which will be holding its media day on 10/01/2024, did not however give any further details on the creation of this joint venture, preferring not "to anticipate the ongoing review by the Austrian antitrust authority."

The two parties have been working together since January 2023 as part of the "Red…