 Following Bjarne Riis' sale of the team to Oleg Tinkov, Saxo Bank stopped its sponsorship as of 2016.In January 2014, Saxo Bank announced it would be one the Lotus F1 team's sponsors this season, moving into motor racing.Saxo Bank told that it would use the Lotus team name in its marketing and also be able to host clients at Formula One races as a sponsor.