Pegasus likely to fold..

[Freakie]

Future of Australian team in doubt after licence problems
Cyclingnews understands that at least six riders from the Pegasus Sports team have begun to look for places in other teams after the Australian team failed to secure a Professional Continental licence from the UCI.
On Friday the UCI announced that 23 teams have secured a licence to compete in cycling’s second division in 2011 after a series of financial, ethical and administrative checks where carried out on each team’s application.

Not good news for the riders like Robbie, the majority of the teams will have filled their rosters and spent their budgets. Although some DS's will be eager to pick a sprinter of Robbies calibre for a bargin price. Looks like GEOX are in the same boat after it looks like they are going to lose their major sponsor leaving Menchov and Sastre out in the cold.

I think these two teams promised the sponsors TDF starts before they had ProTour licences and then failed to get one in a very competitive market. Will be interesting to see where the riders land..

 

[Sasquatch]

Not good news for the riders like Robbie, the majority of the teams will have filled their rosters and spent their budgets. Although some DS's will be eager to pick a sprinter of Robbies calibre for a bargin price. Looks like GEOX are in the same boat after it looks like they are going to lose their major sponsor leaving Menchov and Sastre out in the cold.

I think these two teams promised the sponsors TDF starts before they had ProTour licences and then failed to get one in a very competitive market. Will be interesting to see where the riders land..

http://www.cyclingnews.com/news/pegasus-sports-owner-pulls-plug-on-team

It's a shame for the riders but not a shame for White. It's Karma coming back to bite white on the arse and it's unfortunate that other people are going to fall with him.

Though White should be kicked out of the sport. He obviously didn't have the sponsor signed, sealed and delivered when he was handing out contracts and his ego has just screwed up many people.

It's not surprising with how he has conducted business in the past though.

 

[Sasquatch]

Their latest press release:

Pegasus Sports loses financial backing13-Dec-2010 - Brisbane: Tuesday, December 7, 2010, Pegasus Sports was notified by its principal financial backer that financial support for the Pegasus Sports Professional Cycling project had been retracted. As a result of these changed circumstances, Pegasus Sports was not issued a Professional Continental license by the UCI Licensing Commission as expected on Friday, December 10, 2010. The UCI Licensing Commission has granted the Pegasus Sports' licence application an extension until Wednesday, December 15, 2010.

Pegasus Sports is currently working with a number of parties to secure the necessary funding to guarantee the project's future and ensure the UCI's requirements for a Professional Continental license are met in accordance with the UCI's revised timeline.

"The current reports by some media outlets that the Team has folded are not correct. Pegasus Sports CEO Chris White said. "I have not spoken to any of these media outlets and what is being currently reported is false and most detrimental to a very exciting project. All people associated with the Team are aware of the true circumstances and we continue to work towards meeting the UCI deadline."

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Regardless of what the story is, they are struggling and they will not be pro-conti next year.

 

[Freakie]

What has Chris White done Sasquatch?

Shame to see it go under. Allegedly the back was some dodgy dude that use to own Liverpool FC and pulled out of the deal. Don't blame him, if I saw Robbie riding around in a sleveeless jersey I'd get my money back ASAP.

 

[Sasquatch]

What has Chris White done Sasquatch?

Shame to see it go under. Allegedly the back was some dodgy dude that use to own Liverpool FC and pulled out of the deal. Don't blame him, if I saw Robbie riding around in a sleveeless jersey I'd get my money back ASAP.

Oh, being in the system, albeit triathlons and knowing some of the riders I thought you would have known.

What I posted on another forum:

Richie Porte won the Tour of Tasmania in 2008. After one of the stages, Whitey didn't congratulate Porte and be humble in defeat. No no. He went up to Porte and basically called him a blatant cheat and carried on like a pork chop. What was surprising is apparently he offered Porte a contract for next year like he did other big name riders. I mean, how dumb is he? Does he really think the person he called a cheat and basically said he didn't deserve a win a couple years ago would sign with him?

White also has burnt a lot of riders/staff. Once they give him what he wants, he tosses them out like garbage. No thanks for their work. Nothing. He promises the riders a lot of things so they sign with him. He doesn't deliver his promises and suddenly they have wasted a year or two of their cycling career going nowhere when they were promised they would.

He pressures people to sign with him by offering them a lot and then failing to deliver. It would be a shame if some of the younger riders who fell for his lies this year got burnt by him down the track and it affected their careers.

The following I heard from a reliable source in October and I have followed it up and it's been confirmed. I've heard this from the race organisers and officials who were there.

There was a race a couple years back. The organisers screwed up the teams classification and gave it to Fly V when it was supposed to go to someone else. White knew it. Anyway he got up on stage and accepted the award when he knew he didn't win it and got the cheque. He didn't say it was a mistake, he just ran with it. Over the coming days White refused to give back the money. The race organisers had to physically cancel the cheque because he wouldn't give it back to them. This delay resulted in the riders in question being paid months later than they should have been.

White does not care about riders welfare nor does he care about anyone else other than himself and his pocket. The way he conducts himself behind the scenes and the way he runs things is a joke.

It will be a shame if Pegasus fold. A shame for the riders and staff that they got sucked in by CW. I would feel sorry for them and hope they find a team.

It wouldn't be a shame for Chris White.

I don't believe in Karma but now I think it's real.

 

[Freakie]

Ahh Ok, had no idea...

I haven't been round the racing scene for the last 16 months means I'm now way out of the loop!

I didn't think they had the talent signed to get a priotour licence anyway, pro-conti at best but no protour...

 

[Sasquatch]

Ahh Ok, had no idea...

I haven't been round the racing scene for the last 16 months means I'm now way out of the loop!

I didn't think they had the talent signed to get a priotour licence anyway, pro-conti at best but no protour...

I think the downfall is they were aiming too high. No way were they ever going to get pro-tour. They should have focused on getting the pro-conti licence and riding at that level for a couple years. Instead they focused on a level out of their league, focused on signing riders and getting licences out of their league that it all fell apart.

Speaking of racing, surely you will be fronting up to the Nationals or Bay Crits next year?

 

[Freakie]

I think the downfall is they were aiming too high. No way were they ever going to get pro-tour. They should have focused on getting the pro-conti licence and riding at that level for a couple years. Instead they focused on a level out of their league, focused on signing riders and getting licences out of their league that it all fell apart.

Speaking of racing, surely you will be fronting up to the Nationals or Bay Crits next year?

As a spectator sure! Currently 10kg over race weight and a simple 60km into the wind yesterday saw me having a nanna nap later in the arvo (may have been the 4hrs chrissy shopping straight after though..)

Interesting to see what Menchov and Sastre do now as it looks like GEOX are in the same boat with much bigger names on board.

 

[Sasquatch]

As a spectator sure! Currently 10kg over race weight and a simple 60km into the wind yesterday saw me having a nanna nap later in the arvo (may have been the 4hrs chrissy shopping straight after though..)

Interesting to see what Menchov and Sastre do now as it looks like GEOX are in the same boat with much bigger names on board.

You need some of that EPO that you got your hands on a while back

Yeah that is the one that is really intriguing. I do think teams will find room for Menchov and Sastre though.

 

[Freakie]

You need some of that EPO that you got your hands on a while back

Yeah that is the one that is really intriguing. I do think teams will find room for Menchov and Sastre though.

Need more than EPO! Some consitent training would help...

Be interesting to know what sort of salary they would get this late..

 

[the fly]

With the rumours of Gillett (although no mention of his mate Hicks) having been the planned backer, I shouldn't have really been optimistic about this, even though I wasn't aware of Chris White's history.

 

[Sasquatch]

Anthony Tan on Cycling Central wrote a great article today.

It stated that this would have gone on for months.

If that is the case, CW sucked the riders in I guess you could say. But that's how he rolls. Anyone who knows him closely will tell you that (if they have the balls) so this is not surprising to me that this happened. And this wont' be surprising to other people who have dealt with him in the past.

Some riders have changed their living arrangements such as selling their house, partner quitting job etc because they thought they were moving to Europe next year.

If it is proven that he was without the money for months and the riders signed on false grounds, he could find himself in a huge lawsuit. I'm not that great with Law but I assume some riders may have grounds.

We'll see what Thursday morning brings but if he doesn't have a sponsor, I could see perhaps one rider launching a lawsuit.

Rumours are going around that Scott have pulled their sponsorship. I think it's Scott. Whoever their bike manufacture is.

 

[Freakie]

Yep scott was the bike sponsor, not surprising they have pulled out.

 

[Sasquatch]

Yeah. They should still be able to operate under fly v next year back in the states but their dream of going protour is all but over. No one would sponsor them after this mess

 

[Bond.ShaneBond]

Cyclingnews is reporting they have managed to get a backer, but the company has not been announced yet.

 

[Sasquatch]

Yeah, will be still touch and go regarding a licence.

Considering they had to take a lot of paycuts to have enough money is a disturbing fact and on that alone, they shouldn't get a licence. Dodgy as all hell.