An improved upper bound for the multicolour Ramsey number of odd cycles

We show that the $k$-colour Ramsey number of an odd cycle of length $2 \ell + 1$ is at most $(4 \ell)^k \cdot k^{k/\ell}$. This proves a conjecture of Fox and is the first improvement in the exponent that goes beyond an absolute constant factor since the work of Bondy and Erd\H{o}s from 1973.