Major partnerships include UCI WorldTour cycling’s team and F1 world champion Max Verstappen
Jumbo open to ending deals earlier than 2024
“We have now won everything there is to win,” says CEO Ton van Veen
Dutch supermarket chain Jumbo has confirmed it will exit the sports sponsorship market once its current deals expire at the end of next year, withdrawing more than €20 million (US$21.4 million) in annual funding.
The company’s portfolio includes tie-ups with cycling’s Team Jumbo-Visma and two-time Formula One world champion Max Verstappen.
New Jumbo chief executive Ton van Veen confirmed to Dutch newspaper AD that its deals would not be extended, though it would honour the existing commitments. He added that the company, which only operates in the Netherlands and Belgium, would be prepared to bow out earlier if a replacement can be found for Team Jumbo-Visma.
“That sponsorship has brought us a lot of brand awareness, but we have now won everything there is to win,” said van Veen.“We annually invest more than €20 million in sports sponsorship, but I can only spend every euro once,” he added. “We cannot return that money to the customer, or invest it in sustainability or health.”Jumbo has leant its name to Team Jumbo-Visma since 2014, initially joining as a second sponsor, before becoming the cycling outfit’s main backer in 2019 and launching a women’s team in 2021. The deal has coincided with a great period of success for Jumbo, with star rider Primoz Roglic winning the […]
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