The Jumbo-Visma team could be sponsored by the huge Saudi Arabian Neom development project, with team manager Richard Plugge describing a report by WielerFlits as ‘interesting’ while denying that he has any direct contact with people from Neom.
Dutch supermarket chain Jumbo will end its sponsorship after the 2024 season, but Plugge is hoping to find major international sponsors to replace them and even boost the team’s budget so they can continue to compete against UAE Team Emirates at the Tour de France and at the top of the UCI rankings.
Visma and Cervelo are keen to stay on as key sponsors, but Plugge needs to find a major title sponsor to complete the €35-40 million budget needed to fund the men’s, women’s and development teams.
Plugge revealed he is working with a number of contacts and agencies to try to find a new sponsor, claiming that is why he was not directly aware of the interest from Neom. It appears that the talks with Neom have been underway for a while, with other potential sponsors also interested.
“Their interest in sponsoring our team is new to me. It is possible that one of our contacts or agencies that we have engaged to find us a new sponsor is in contact with this party,” Plugge told WielerFlits when the Dutch-language website broke the news of the possible sponsorship.
“We get an update from them every so often. We are currently in serious talks with several international parties, but there is nothing concrete yet.”
The Neom project is a huge development aimed at launching Saudi Arabia globally and reducing dependence on oil revenues. It includes the Line project, described as a 110km long ‘smart city’ and will be located in northwestern Saudi Arabia near Egypt and Jordan.
The plans include a number of other massive construction projects, including a floating industrial complex, a global trade hub, tourist resorts and a huge linear city building, all apparently powered by renewable energy sources. It has been described as the largest architectural plan in the world and is largely financed by the Saudi Arabian Public Investment Fund (PIF) with an estimated budget of $500 billion.
Qatar and the United Arab Emirates have followed a similar development strategy in the last 20 years and Saudi Arabia is keen to catch up under the rule of Crown Prince Mohammed bin Salman.
Saudi Arabia, like its neighbours, has been accused of sports washing by using global interest in sports to wash over their poor record on human rights. Saudi football clubs are currently spending millions to sign big-name players for their leading teams, and Saudi investors bought the Newcastle United Premier League football team in Britain last year.
Saudi Arabia's Public Investment Fund has also bankrolled the LIV Golf breakaway and will fund the new deal reached with the PGA. The Saudi state oil company Aramco signed a long-term global sponsorship deal with Formula 1 and helped create the Jeddah Grand Prix.
Tour de France organiser ASO already helps run the Saudi Tour and the Saudi Arabian tourist area AlUla has a growing stake and sponsorship in the Australian Jayco-AlUla team.
Amnesty International has spoken out often about Saudi Arabia’s human rights record, claiming that protesters are punished unfairly and that migrant workers continue to be abused and exploited under a sponsorship system. The country’s status law codifies male guardianship and discrimination against women. The death penalty continues to be applied regularly in Saudi Arabia.
The murder of Saudi journalist Jamal Khashoggi in 2018 cast a shadow over the ruling of Crown Prince Mohammed bin Salman. A United Nations report deemed that Khashoggi's death "constituted an extrajudicial killing for which the state of the Kingdom of Saudi Arabia is responsible".
Others credit Crown Prince Mohammed bin Salman with rejuvenating Saudi Arabia and creating new developments such as Neom.
WielerFlits spoke to Dutch tax expert and Middle East expert Stijn Janssen about the possible sports sponsorship by Saudi Arabia and Neom.
“Neom sees the opportunities offered by sponsorship of Jumbo-Visma. It fits their profile exactly – following UAE Emirates and Bahrain Victorious – to become a superpower in the cycling world,” Janssen said.
“Saudi Arabia is mainly looking for long-term deals. That fits Jumbo-Visma, which is looking for a partner until the end of 2030 and has the ambition to be one of the best teams in the world.”
“The regime wants the Neom to become a top destination for major sporting events. Crown Prince Mohammed bin Salman realises that sport is a fantastic tool to create new diplomatic relations, help conclude trade agreements, attract tourists and promote sport in general. as a way to create a position in international society.”
Jumbo-Visma have until the summer of 2024 to secure a new sponsor to replace Jumbo and so convince other sponsors and their leading riders to stay onboard. Teams begin registration with the UCI for 2025 in August 2024.
