Team Cult Energy must stop as of September 13 if it does not find a new sponsor. The team had previously announced that it was in financial difficulties.
“After September 13, we have decided to stop our race program, because we now have a limited amount of money, so we cannot run the last month of the season,” sport director Michael Skelde told dr.dk.
“I'm still optimistic, but I understand if our riders are in despair about the team's future. They are now informed about the situation and we will not stand in the way if a rider changes teams.”
The team includes Germans Linus Gerdemann and Fabian Wegmann, Gustav Erik Larsson and Russell Downing. One of the Danes on the team is Rasmus Guldhammer. “It is really sad and really sorry for Danish cycling. I am going out and finding a new team, so I have to work to find something,” he said.
Cult Energy has said that it would like to continue on, but is not financially capable of being the sole sponsor of a Professional Continental-ranked team.
In June, the team lost long-time team manager Christa Skelde, who said that her doctor advised her to stop due to the stress she was under.
If the team does stop in mid-September, its last races would be the Tour of Britain (Sept. 8-13), preceded by the Post Danmark Tour (August 4-8). “We hope to use Post Denmark as a last opportunity to find a new sponsor,” Skelde said.