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Euskaltel-Euskadi selling team buses to pay wages?

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Samuel Sanchez, left, awaits the start of the final stage with his Euskaltel-Euskadi teammates.

Samuel Sanchez, left, awaits the start of the final stage with his Euskaltel-Euskadi teammates.
(Image credit: Bosco Martin)
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Euskaltel-Euskadi's Miguel Madariaga, left, and Igor Gonzalez de Galdeano at the 2008 Tour de France.

Euskaltel-Euskadi's Miguel Madariaga, left, and Igor Gonzalez de Galdeano at the 2008 Tour de France.
(Image credit: Sirotti)
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The orange armada of Euskaltel-Euskadi should find the hilly terrain to their liking.

The orange armada of Euskaltel-Euskadi should find the hilly terrain to their liking.
(Image credit: Sirotti)
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Flying carrots! Euskaltel-Euskadi in the men's team time trial at th UCI Road World Championships

Flying carrots! Euskaltel-Euskadi in the men's team time trial at th UCI Road World Championships
(Image credit: Sirotti)
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A Cofidis and Euskaltel-Euskadi rider gather themselves after crashing.

A Cofidis and Euskaltel-Euskadi rider gather themselves after crashing.
(Image credit: Rafael Gómez Alonso)
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The Euskaltel-Euskadi Orbea bikes

The Euskaltel-Euskadi Orbea bikes
(Image credit: Stephen Farrand)

Euskaltel-Euskadi riders and staff are yet to receive their salary from the month of November with budget cuts for the 2012 season reportedly hitting the Basque team hard.

Monday and Tuesday of this week will be crucial to ensure a smooth transition to a 'globilized' project in 2013. Team boss Miguel Madariaga is faced with the situation where crucial team assets must now be sold in order for riders to be paid.

"I have no other solution. Buses are my salvation; we must sell them because if we don't, Fundación Euskadi is in great danger," he told Euskadi Irratia.

November and December payrolls totalled 857,000 euros and team buses are valued at 918,000 euros. Madariaga explained that the shortfall was due to the 1.3 million euros in budget cuts for the year and he is hopeful that Euskaltel will be understanding.

"The problem is not just mine, it's everyone," Madariaga explained. "Euskaltel also wants to solve the problem. Keep in mind that almost all riders will continue with them and it will not be a good start to the new season. But before we get to that point we all have the opportunity to talk to everyone and fix this issue. I have hope that everything will be resolved before year end."