AG Insurance have become the majority share holder of the Women’s WorldTour team which bears its name, AG Insurance-Soudal, announcing that the company will control 76% of shares after a dispute amongst the team's management.
The remaining shares will be retained by Decoulef, the company which operates the men’s WorldTour team Soudal-QuickStep.
Team founder Natascha den Ouden, who launched the team as a women’s development squad in 2019, will step aside as both an owner and team manager, citing “insurmountable difference of vision” for her decision.
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“Over the past year, an insurmountable difference of vision and insight arose that were at the basis of this project. I have therefore decided to withdraw as owner and team manager,” she wrote in a statement on her LinkedIn account.
“I do not take this decision lightly. It is a farewell with pain in my heart. I want to thank riders and staff for their trust over the past years, the fans for their enthusiasm and sponsors for their contribution. Without your commitment, this team could never grow into the realisation of my motto 'unlock your potential’.”
In the new structure, Jolien D'hoore will become sports manager of AG Insurance-Soudal and Jurgen Foré will step in as the team manager while retaining his role as COO of Soudal-QuickStep.
D’hoore, a four-time Belgian road champion who retired from racing in 2021, worked as the sports director the last two seasons. She guided the squad through their first appearance at Tour de France Femmes avec Zwift, using a wild card entry, where Ashleigh Moolman-Pasio finished sixth overall.
AG Insurance, the largest insurance company in Belgium, joined as a leading sponsor in March 2022 and the Continental squad became the AG Insurance-NXTG Team.
Investment in late 2021 had initially come from Experza, a company co-owned by Patrick Lefevere, who owns a part of Soudal-QuickStep and manages the team. The insurance company came on board with a deal until 2025.
The often outspoken Lefevere has come under fire over the years for controversial remarks, including a recent UCI fine, suspended on condition of a public apology, for comments "disparging to women."
Three years ago he caused debate for say he had “no time, money or desire to invest” in women’s cycling, only to change his mind.
"We added a professional women's team to our organisation when we were able to offer our riders the professional environment we want to guarantee as 'the Wolfpack'. The women's team benefits from the full support of our professional cycling structure that has been in place for more than 20 years," Lefevere said in a press release about the new shareholder structure for the women’s team.
"All knowledge and experience in performance, training, nutrition and technique is shared between all our teams. Today, our team consists of 15 professional WT riders, 16 DEVO + U19 riders and 30 staff members. We are proud to cement the excellent cooperation with a strong partner like AG Insurance, and to continue building the future of women's cycling together.”
AG Insurance-Soudal moved to Women’s WorldTour status this season, securing one of the two available licences for 2024-2025 after finishing 13th in the 2023 overall team rankings as a Continental programme.
To start this year’s road season, team leader Moolman-Pasio has recorded a second place at Trofeo Palma Femina while the team’s newest addition, Sarah Gigante, who moved from Movistar, won the GC title at Santos Tour Down Under.
At Tour of Flanders this Sunday, the team will be led by Kim Pienaar, née Le Court, who was ninth at Brugge-De Panne and 13th at Gent-Wevelgem and supported by Maaaike Boogaard, Julia Bogström, Marthe Goossens, Ilse Pluimers and Maud Rijnbeek.
The team was launched six years ago by Den Ouden with six junior riders, and has grown to provide not just earning opportunities at the highest level, but a path for development for junior and under-23 riders.
“AG Insurance would like to thank Natascha den Ouden for her pioneering work as the founder of this team and for women's cycling in general. This team emerged and was able to develop thanks to her personal commitment and expertise. AG Insurance-Soudal is preparing for a promising future while remaining true to its vision of sustainable growth,” acknowledged the team in a statement on Friday.
