After a successful entry into the Australian cycling scene in 2007, the Queensland-based Bike King cycling team has lost its title sponsor for the rest of the 2008 season. Bike King cites a lack of available funds for the termination of its deal with the Continental team.
For the remainder of the season the team will be run by Jeremy Betts, who had left his role as manager at the beginning of this season to take up a spot on the team as a rider.
"I realised I couldn't continue to let the team suffer any longer and I stepped back in as Team manager in June," Betts said. "Since then Bike King has advised me that they have no further funds available for the team which has forced me to source addition funds from other current sponsors to at least get us to the Tour of Gippsland until we find a new title sponsor."
The team will race the Gippsland event under the name GD Investments, A company which also supported the team in 2007 under the name Ord Minnett. The team continues to seek a title sponsor for the remainder of the season and beyond. Anyone interested can contact Betts via email at: email@example.com
In 2007 Ord Minnett riders collected a number of promising results. Cameron Hughes won the Grafton to Inverell, while a number of its younger riders moved on to race in Under 23 development teams in Europe for the 2008 season.