HSBC to end cycling sponsorship deal after 2020 Olympics


LONDON (Reuters) – HSBC will end its sponsorship of British cycling after the 2020 Olympics, a source familiar with the matter told Reuters on Tuesday.

The British bank is only four years into a multimillion-dollar deal, but is seeking to cut costs as part of a wider restructuring announced last Tuesday.

A spokesman for British Cycling confirmed that HSBC had ended the contract.

Reporting by Lawrence White; Editing by Rachel Armstrong