Saxo Bank calls for more Danish sponsorship in sport

Just one day after the executive chairman of the McLaren racing team, Ron Dennis, called for more Danish sponsorship in Formula 1 motor racing, Lars Seier Christensen, the CEO of investment bank Saxo Bank, concurred there is a need for more Danish sponsorship in sports.

Christensen said that Saxo Bank's sponsorship deals in Formula 1 with Lotus and in pro cycling with Team Tinkoff-Saxo have helped boost the company's brand overseas.

”I can see that people know Saxo Bank when I am on the other side of the globe, as opposed to many other companies,” Christensen told DR Nyheder. ”And that's down to our engagements in cycling and Formula 1.”

”He [Dennis] is right. It would be nice to see more Danish companies in sport in general. For companies with large international brands in particular, Formula 1 and cycling is very effective in terms of getting out there.”

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Not just about money
Christensen said that it also creates loads of goodwill in Denmark and abroad if the sponsorship contributes to the promotion of the careers of Danish athletes.

And while Christensen believes there are plenty of Danish companies who could afford to have sponsorships in sports, it's not just a question of financing.

”In Denmark we focus a lot on having a green profile, and I’m not quite sure how that harmonises with Formula 1,” Christensen said. ”On the other hand, cycling is relatively green, so perhaps it's just how the Danish companies think.”