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Sungard to stop co-sponsoring Danish cycling team

Updated: November 16, 2011, 05:54

COPENHAGEN, Denmark (AP) American software company SunGard says its move to stop sponsoring Danish cycling team Saxo Bank-SunGard from next year is a "business decision.''

Sungard spokesman George Thomas praised the "successful partnership'' and stresses the decision was "not related to the team,'' which contains three-time Tour de France champion Alberto Contador.

Danish Internet-based company Saxo Bank said Wednesday in a statement that it will become the sole sponsor of the outfit in 2012, with the name changing to Team Saxo Bank.

SunGard, a Pennsylvania-based company, signed a one-year sponsorship deal with the Danish team last year. The deal had been renewed for 2011 and 2012.

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