By Susan Westemeyer European cycling is falling on hard times: teams are looking for sponsors and...
By Susan Westemeyer
European cycling is falling on hard times: teams are looking for sponsors and races are being cancelled due to lack of money, and now even the Swiss national federation has fallen into financial difficulties. According to the website of the German cycling federation, rad-net.de, Swiss Cycling is looking for 100,000 to 300,000 Swiss franc (62,000 to 185,000 euro). Two Swiss Cycling officials have sent a mailing to members, asking them to look for private sponsors who would be willing to donate a minimum of 600 franc (370 euro).
The financial problems are apparently not new. Five of the group's eight directors have resigned in the last few months, including the finance director.
The situation is serious, according to Rene Walker, of the board of directors. "There are dark clouds over our national team. The financial situation is so that we need money immediately."
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