FDJ to change to Groupama-FDJ as insurance group joins up
Cycling’s top-tier Francaise des Jeux team has a new co-sponsor, Groupama, the French insurance company, meaning that the team will change its name to Groupama-FDJ from March next year.
Groupama has previously sought to raise its profile through sponsorships in sailing, and is also the naming rights sponsor of soccer stadia in Lyon and Budapest.
Conversely, FDJ will reduce its investment in the team, as it bids to use other avenues to convey its brand messages, including the 2024 Olympic Games in Paris.
Nevertheless, Groupama’s involvement is set to increase the team’s budget by 30 per cent, to about €16 million ($18.9 million) to €20 million a year, according to l’Equipe, the French sports newspaper.
In a statement, the team said: “Groupama and FDJ join forces today with the objective of becoming the top French cycling team in terms of means, and with resources on par with those of international teams, allowing us to set our sights on establishing ourselves among the top 10 teams in the world.”
Groupama’s involvement will also enable the team to launch a development squad from 2019.
Française des Jeux is the operator of France’s national lottery games.