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Team Sky reveal operating cost of £31 million for 2016

Staff and rider cost totals £24 million for Team Sky

Joe Robinson
28 Sep 2017

Latest figures show that Team Sky spent just over £24 million on staff and rider costs for the 2016 season, with their overall operating expense totalling £31 million. 

In figures published on Companies House, 'Tour Racing Limited', the British-registered corporation behind the team, unveiled that staff and rider cost totalled £24 million for the year. This saw a £6 million rise from the 2015 season. 

The 2016 season was another successful one for the team, with a third victory for Chris Froome in the Tour de France as well as the team's first monument success with Wout Poels at Liège-Bastogne-Liège.

Beyond the rider and staff cost, bike and performance equipment totalled over £2 million whilst research surprisingly only came to £52,000 despite the team's 'marginal gains' mantra.

Beyond the costs of the team, it was revealed that primary sponsors Sky plc Group and 21st Century Fox increased its financial backing by £8 million. 

In 2015, the two companies provided £15 million of the overall budget. For 2016, the cost had risen to £23 million – nearly a 50% increase in funding. 

The outstanding £8 million income can be presumed to be made up by Team Sky's secondary sponsors such as Shimano and Ford.

These latest figures make for interesting reading after the financial worries of some of Team Sky's fellow WorldTour teams. 

Until being saved by EF Education First, Slipstream Sports was threatened with closure due to sponsorship shortfalls.

In the hunt for a sponsor, team manager Jonathan Vaughters commented that he would need £16 million to run the team effectively, almost half of the budget of Team Sky last year.