French bank Crédit Agricole will stop sponsoring its ProTour squad at the end of the 2008 season. After 10 years of sponsorship in the professional peloton, the bank has decided that it will not renew its contract.
A spokesperson for the bank said: "Crédit Agricole is pleased with the close cooperation which it maintained, since August 1998, with [team manager] Roger Legeay." The sponsor also praised the "exemplary behaviour of the riders who wore the colours of Crédit Agricole."
Crédit Agricole will not disappear entirely from cycling as it will stay active as sponsor of the Coup de France, the prestigious French racing series.
"Crédit Agricole will continue to support - until after 2008 - big races on the cycling calendar, such as the Coup de France, but also the clubs, departmental or regional committees of the French Cycling Federation," said the spokesperson.
Before Crédit Agricole, the team managed by Roger Legeay, had been sponsored by Peugeot, Z and GAN. Legeay now has over one and a half years to search for a new title sponsor for the team.