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Giro d’Italia to stay with RCS

On Monday, RCS Mediagroup, the Italian company that owns the Giro d'Italia and other races, refuted rumours that it would sell the Giro.

December 21, 2015
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On Monday, RCS Mediagroup, the Italian company that owns the Giro d’Italia and other races, refuted rumours that it would sell the Giro. Instead, a business plan for 2016-2018 seeks to eliminate the corporation’s $731 million (Canadian) debt by investing in RCS Sport, the wing that organizes the Giro.

For weeks, speculation has mounted that RCS might sell the Giro to China’s richest man Wang Jianlin or US companies Discovery Communication and IMG. After the business plan was revealed, RCS Mediagroup Laura Cioli explained that RCS will also invest in both pro events and amateur mass participation events. She also said that RCS has secured potential additional funding.

“We can build on the current properties, this is important for us,” added Cioli. “Italy is a premium, it is favourable for those things and for cycling with its history.”

RCS Sports’ other holding are Strade Bianche, Milan-San Remo, Milan-Turin, Giro del Piemonte, Il Lombardia, the Milan marathon and Tirreno-Adriatico, which released its 2016 parcours on Monday, along with a new logo.