Danish cycling team gets new sponsor in SunGard

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COPENHAGEN, Denmark (AP) — Danish cycling Team Saxo Bank says it has signed a one-year sponsorship deal with American software company SunGard.

Team manager Trey Greenwood said Tuesday the deal “is a strong signal to send for us and it couldn’t come at a better time.”

However, the team is still looking for a new main sponsor to buy the naming rights after Saxo Bank said last week it would withdraw its sponsorship by the end of the year. The Internet-based investment bank became a sponsor in 2009 for a three-year period.

SunGard spokesman Brian Robins says the Pennsylvania-based group “see great potential to improve SunGard’s brand awareness and visibility as a global IT company.”

Financial details of the deal were not disclosed.