Red Bull is stampeding into professional cycling in a big way after buying a controlling stake of Bora-Hansgrohe, the German-based WorldTour team that penned Primož Roglič to a multi-year deal.
According to documents posted on an Austrian government website, the energy drinks giant is buying a 51 percent controlling interest of the team owned by founder Ralph Denk.
Officials later released a statement confirming their intention to complete the deal that’s still under review by officials.
“Red Bull is planning to expand its involvement in road cycling and is aiming for a partnership with Bora-Hansgrohe,” a statement read Wednesday.”By becoming a partner in team manager Ralph Denk’s operating company, Red Bull strives to complement the team’s portfolio of existing long-term main sponsors, who will remain on a long-term basis. The planned joint venture has been notified to the relevant antitrust authority.”
The news was posted on Austria’s Federal Competition Authority website Tuesday, and was picked up by observers on X.
According to the documents, Red Bull GmbH, the corporate group behind the global brand, is acquiring a controlling interest in RD pro cycling GmbH & Co KG and RD Beteiligungs GmbH, the holding entities behind the Bora-Hansgrohe WorldTour team.
Described as an “indirect acquisition” in the official notice, it is uncertain how and if the deal might change management at the team or if the merger would include a fresh infusion of cash for the team.
No financial details were revealed in the documents.
The move is the latest by Red Bull’s growing presence in the road racing space.
The global marketing giant is already a personal sponsor of some of the WorldTour’s top stars, including Wout van Aert, Kata Blanka Vas, and Tom Pidcock.
Red Bull was also working with Denk’s Bora-Hansgrohe team, backing its development team and supporting Anton Palzer, a former ski mountaineer who transitioned to road racing.
Denk’s squad already scored a coup by signing Roglič to a multi-year deal after luring him away from Jumbo-Visma in a blockbuster deal that happened in part of renewed support from Red Bull.
Roglič will lead the team in a bid for the yellow jersey at the Tour de France in 2024.