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Volksbank licensed for another year

By:
Gerard Walsh, Editor, Goulburn Post Newspaper
Published:
December 22, 2006, 0:00 GMT,
Updated:
April 20, 2009, 23:41 BST
Edition:
First Edition Cycling News for December 22, 2006

Team Volksbank has been granted its Pro Continental license for another year, it announced Thursday....

Team Volksbank has been granted its Pro Continental license for another year, it announced Thursday. The UCI granted the license after an examination of the team's finances, including rider and sponsor contracts. The team provided a bank guarantee of 300,000 Swiss Francs to cover the riders' salaries.

Volksbank now has 14 riders under contract and is conducting further negotiations. Team Manager Thomas Kofler said, "We did our homework to everyone's satisfaction and established a good basis for new and even bigger successes -- a good platform for a super cycling year in 2007.

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