The Gran Fondo World Tour organising team has introduced a new investor for the Gran Fondo World Tour Series – Andorra-based company Grandvalira-SAETDE. The new largest shareholder in the international gran fondo series is also the owner of the Grandvalira Ski Resort in Andorra. Terms of the investment deal were not disclosed.
This latest investment, effectively an acquisition of majority control, puts the Gran Fondo World Tour Series fully on an expansion footing. The announcement also comes hot-on-the-heels of Haute Route’s expansion through its acquisition of the Gran Fondo National Series in the USA. An international scaling up of gran fondo (sportive) operations certainly appears to be under way.
Grandvalira SAETDE is also a specialist in tourism project management with initiatives worldwide under its Pas Grau Internacional Management (PGI Management) division. As part of the purchasing price, the new shareholder will seek to accelerate the growth of the Gran Fondo World Tour brand with investment in advertising and media planning budgets. The new owner will keep Gran Fondo World Tour Series founder Dani Buyo on board as CEO and Expansion Manager.
The Gran Fondo World Tour team is ‘searching new destinations to take more presence in future editions of the worldwide gran fondo events tour.’ A release from the company added, ‘We are in a position to introduce soon two new destinations in Asia, and new continents involved in the gran fondo worldwide tour.’
The aim is clearly to reach more international participants. 32,000 participants reportedly took part in the series’ 2018 events, across 11 destinations and 4 continents.
For 2018, the Gran Fondo World Tour Series introduced new features, including a US$36,000 prize pot for series ranking winners, and presented new agreements with media such as Granfondoguide.com and an international campaign in English to reach more gran fondo participants. The aim is to expand the series’ database to sign-up more than 45,000 cyclists across all 2019 series destinations.
2019 will also see the introduction of a new second event brand: Gran Fondo World Championship – a one day event for women-only.
The full 2019 Gran Fondo World Tour Series calendar will be updated in November, as ‘the scouting team are closing the new destinations for next season.’