JLT Condor to finish at the end of the season
OnTheRopes
Posts: 460
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OnTheRopes wrote:
Bummer. I guess it must be expensive relative to returns especially when theres a gulf between the pro peloton and the domestic teams0 -
Domestic teams probably don't get too much exposure and difficult to analyse but I can't see how they can be cost effective to sponsor unless you are actually in the Cycle trade selling cycles or kit. How many people actually know what JLT do for instance?Vino'sGhost wrote:OnTheRopes wrote:
Bummer. I guess it must be expensive relative to returns especially when theres a gulf between the pro peloton and the domestic teams0 -
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ha, I always thought it was Jonathan Tiernan-Locke
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They're a pretty massive insurance company - and provide the underwriting for lots of specialist bike insurance. They've got a lot of money and this will be a drop in the ocean, but I think the initial commitment by them was a result of some (possibly one) very passionate cyclists at a pretty senior level in JLT.OnTheRopes wrote:How many people actually know what JLT do for instance?
I think its really sad - Rapha Condor/Recycling Condor/Rapha Condor Sharp have been around for a good while and been a real presence domestically and done some good things internationally as well. John Herety a top man, Kristian House a total dude.
I just don't understand why someone wouldn't want to pick up the team. Good riders, superstar Olympian in Ed Clancy, infrastructure all there. How much would it cost?http://www.georgesfoundation.org
http://100hillsforgeorge.blogspot.com/
http://www.12on12in12.blogspot.co.uk/0 -
Around half a million I should thinkmroli wrote:
How much would it cost?OnTheRopes wrote:How many people actually know what JLT do for instance?0 -
OnTheRopes wrote:
Around half a million I should thinkmroli wrote:
How much would it cost?OnTheRopes wrote:How many people actually know what JLT do for instance?
they could pitch on Dragon's Den0 -
I'll have a word at work.OnTheRopes wrote:Around half a million I should think
That must be pocket change to some companies though - right?http://www.georgesfoundation.org
http://100hillsforgeorge.blogspot.com/
http://www.12on12in12.blogspot.co.uk/0 -
I met a bloke who worked for the “Private Wealthcare” department of a well known high st bank (3rd highest building in Canary Wharf), who told me one of his clients was a Russian oligarch with £20 billion sat in an account that they were helping advise him with. £20 billion!mroli wrote:
I'll have a word at work.OnTheRopes wrote:Around half a million I should think
That must be pocket change to some companies though - right?
3 things struck me about that: firstly, it’s an obscenity that 1 individual is sat on such wealth (especially as this was just one of his accounts and didn’t take into consideration his other capital/possessions, etc); secondly, imagine the lives he could benefit with such dosh... and thirdly, he can’t be as much of a tit as Tinkov so perhaps he could back a pro bike team?
But then I can’t understand it when I go to France during the Tour and everyone isn’t watching it all of the time, so perhaps my cycling blinkers exclude me from any rational thoughts around the sport...0 -
The day after the JLT announcement cancelling their sponsorship there was another announcement stating JLT had just been bought by Marsh. They are an even bigger Insurance Brokerage firm. I suspect that may have been the reason for cancellation.0
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Pina62 wrote:The day after the JLT announcement cancelling their sponsorship there was another announcement stating JLT had just been bought by Marsh. They are an even bigger Insurance Brokerage firm. I suspect that may have been the reason for cancellation.
As mentioned in the article dish_dash linked to above.
Well to the forum young padawan, where pedantry and sneeriness abound0 -
We'll buy your company for multiple billions of pounds, but only if you ditch that £500k a year sponsorship of a bike team...Pina62 wrote:The day after the JLT announcement cancelling their sponsorship there was another announcement stating JLT had just been bought by Marsh. They are an even bigger Insurance Brokerage firm. I suspect that may have been the reason for cancellation.
I know some cyclists who work for Marsh as well...
As OC says - I don't know where their priorities lie! £20bn... I could spend that pretty quickly by redistributing it in cycling... First stop - funding a new classics race in North Cornwall. Send a load of toughmen up and down Millook, Boscastle High St, Crackington and others all day in March. Brilliant....http://www.georgesfoundation.org
http://100hillsforgeorge.blogspot.com/
http://www.12on12in12.blogspot.co.uk/0 -
TakeTheHighRoad wrote:Pina62 wrote:The day after the JLT announcement cancelling their sponsorship there was another announcement stating JLT had just been bought by Marsh. They are an even bigger Insurance Brokerage firm. I suspect that may have been the reason for cancellation.
As mentioned in the article dish_dash linked to above.
Well to the forum young padawan, where pedantry and sneeriness abound
...... and sneering abounds0 -
mroli wrote:
We'll buy your company for multiple billions of pounds, but only if you ditch that £500k a year sponsorship of a bike team...Pina62 wrote:The day after the JLT announcement cancelling their sponsorship there was another announcement stating JLT had just been bought by Marsh. They are an even bigger Insurance Brokerage firm. I suspect that may have been the reason for cancellation.
I know some cyclists who work for Marsh as well...
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MMC are basically a firm of consultants, aka accountants who obsess over spreadsheets and understand the price of everything but the value of nothing. and as per most acquistions its done by ramping up debt with the promise of lots of management speak nonsense and delivering cost savings.
and just by taking on the company theyve found a way to save half a million quid already, plus they are an American based company, what does a British UCI conti cycling team even mean to them.
as has been said already JLT were clearly sponsoring out of a passion for the sport, not to promote their business, and most FTSE100 companies employ alot of passionate cyclists all of whom would love to see their company spend their marketing budget on a cycling team, unfortunately it doesnt work like that.0
