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http://www.cyclingnews.com/news/uci-refuses-pegasus-sports-license
A press release from the team:
21-Dec-2010 - Brisbane: The International Cycling Union (UCI) today announced that Pegasus Sports will not receive a UCI Professional Continental license for 2011.
The team’s status was in doubt after its major financial backer withdrew on the eve of the UCI’s license application deadline, leaving the organization scrambling to find other sources of funding.
“We are shocked that the license was denied,” stated Chris White, Pegasus Sports CEO. “The team was already prepared for the 2011 season and we worked really hard after the news from last week. Significant cost reductions were made and additional sponsorship both from within our existing sponsor base and an external group was gathered, in order to stabilise the team financially in the short term. The people within the organisation were at the centre of this action and commitment, which is a real testament to the mateship within the team. We do not want to give up. The team is exploring whether there are other options for next year.”
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It doesn't surprise me. White screwed this up so much it's not funny. He is a dodgy businessman - we all know that. He has screwed over a lot of riders, particular Bernie Sulzberger who was told and guaranteed he was going to Europe next year. He sold his house and his wife quit her full time job because of that.
What happens next will be very interesting.
CA could be getting behind another Australian team as mentioned in another thread.
A press release from the team:
21-Dec-2010 - Brisbane: The International Cycling Union (UCI) today announced that Pegasus Sports will not receive a UCI Professional Continental license for 2011.
The team’s status was in doubt after its major financial backer withdrew on the eve of the UCI’s license application deadline, leaving the organization scrambling to find other sources of funding.
“We are shocked that the license was denied,” stated Chris White, Pegasus Sports CEO. “The team was already prepared for the 2011 season and we worked really hard after the news from last week. Significant cost reductions were made and additional sponsorship both from within our existing sponsor base and an external group was gathered, in order to stabilise the team financially in the short term. The people within the organisation were at the centre of this action and commitment, which is a real testament to the mateship within the team. We do not want to give up. The team is exploring whether there are other options for next year.”
----------------------------------
It doesn't surprise me. White screwed this up so much it's not funny. He is a dodgy businessman - we all know that. He has screwed over a lot of riders, particular Bernie Sulzberger who was told and guaranteed he was going to Europe next year. He sold his house and his wife quit her full time job because of that.
What happens next will be very interesting.
CA could be getting behind another Australian team as mentioned in another thread.
