British Cycling have signed a a long-term partnership with the multinational oil and gas giant Shell, that will bring in "wide-ranging support and investment".
The eight-year deal makes Shell UK an "Official Partner" of British Cycling , which has previously been sponsored by Sky and HSBC. Since the end of 2021, BC has been without a top-level sponsor but Shell will take a lower role than lead sponsor in this deal, which runs until 2030.
In a press release sent out on Monday afternoon, British Cycling said that the partnership will see a shared commitment to "supporting Great Britain’s cyclists and para-cyclists through the sharing of world-class innovation and expertise; accelerating British Cycling’s path to net zero; and helping more – and wider groups of – people to ride, including ways to make cycling more accessible for disabled people".
It also said the new agreement fits into BC’s "broader range of commercial partners to support the delivery of the organisation’s strategy, ‘Lead Our Sport, Inspire Our Communities’".
Shell UK is one part of a global group of energy and petrochemical companies that produces millions of barrels of oil equivalent a day.
This year, Shell posted record earnings of $11.4bn (nearly £10bn) for the three-month period from April to June and promised to give shareholders payouts worth £6.5bn. While that growth has slowed in the second half of 2022, it is still making millions out of oil and gas.
Brian Facer, British Cycling chief executive officer, said in the press release: "We’re looking forward to working […]