TechPowered By

More tech

Pegasus Sports owner pulls plug on team

By:
Les Clarke
Published:
December 13, 2010, 0:35 GMT,
Updated:
December 13, 2010, 5:12 GMT
Edition:
First Edition Cycling News, Monday, December 13, 2010
Interviews get under way.

Interviews get under way.

view thumbnail gallery

White left with few current options to continue

It appears that Pegasus Sports may fail to even exist in 2011, let alone become a Professional Continental team.

Cyclingnews received information that team manager Chris White had indicated that financial support for the squad has ceased due to the majority owner of the squad withdrawing support.

White went on to advise of the uncertainty which now surrounds the future of Pegasus Sports.

Speculation has been rife in recent days that the team's potential commercial backer - which had yet to be announced - withdrew its support, leaving White without a headline sponsor for the 2011 season.

It now seems that financial problems are at the root of the team's troubles; whilst White has constantly denied that this is the case, information garnered by Cyclingnews indicates that he faces a mammoth task simply constructing a squad with any backing for 2011.

Cyclingnews also confirmed that the team will not receive a Professional Continental licence, although an extension has been granted until midway through this week. Six riders are now seeking alternative arrangements after the team was denied a licence by the UCI.

Stay tuned to Cyclingnews for more on the troubles plaguing Pegasus Sports.

Back to top