Swiss entrepreneur and BMC cycling backer Andy Rihs has died
Rihs' ambition was to make BMC bicycles the "Porsche of race bikes".
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The co-founder of the hearing aid company Sonova died on Wednesday at the age of 75. The Zurich native financed the BMC cycling team, as well as the Bernese Young Boys football club.
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Born in 1942, Rihs started work in his father’s company before co-founding hearing aid firm Phonak in 1994. After early setbacks, the company became very successful, with a turnover of CHF125 million ($129 million) at the time. It was renamed SonovaExternal link in 2017, when it posted a turnover of over CHF2 billion.
Rihs invested part of his fortune in professional cycling by building the Phonak cycling team in 2000. The same year he took over the reins of the BMCExternal link cycling company that supplied Phonak with bikes. His ambition was to make BMC bicycles “the Porsche of race bikes”.
The Phonak team reached the pinnacle of cycling success when its rider Floyd Landis won the the Tour de France in 2006. However, four days after the victory, the American rider was accused of doping and his first-place finish was annulled. The team had earlier lost its licence after three of its riders tested positive for banned substances in 2004. The ban was overturned in 2005 after an appeal to the Court of Arbitration for Sport.
Rihs was later a sponsor of the BMC RacingExternal link team which was also tainted by doping scandals. The team had to suspend three of its riders who tested positive ahead of the 2010 Tour de France.
In addition to cycling and football, Rihs financed a range of start-up companies. He also owned La Coquillade, a winery in the south of France, which also houses a luxury hotel.
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