Team Capinordic's future in doubt

Team Capinordic announced that its primary sponsor, the Capinordic financial group, has decided to withdraw sponsorship at the end of the 2009 season putting the future of the Denmark's winningest professional team in jeopardy. The Danish UCI Continental team had a three-year agreement from Capinordic, but the title sponsor has had to make cuts due to the current financial crisis.

Team owner Soren Svenningsen has given himself 14 days to find a replacement title sponsor and if that fails then the team will dissolve at the end of this season. "It would be very sad if all the work and energy the entire team has put into the project over the years must now vanish into thin air," said Svenningsen. "Our staff and riders don't deserve this, nor do all the sponsors and cooperating partners who continue to back the team. Most of these sponsors have contracts which run until 2011 - so the whole setup is ready to be picked up by a new main sponsor.

"I know that it is an uphill struggle, as many companies are still under pressure from the current crisis, but I hope that there are still companies which can see the uniqueness of being branded by a cycling team. We have delivered results throughout all our years. Unlike so much else these days, investment in our cycling team is probably the closest you get to a guarantee of success."

Team Capinordic's riders have won 40 races in 2009, including two world championships, two Danish championships and the U23 Liège-Bastogne-Liège. The team has been in existence since 2002 and has been instrumental in developing young talent in Denmark, such as Team Saxo Bank's Matti Breschel and Chris Anker Sørensen.

The loss of Team Capinordic would also have an adverse affect on the number of riders Denmark is able to send to future world championships. Sixty percent of Denmark's current UCI points were contributed by Team Capinordic's riders, which helped the country have six starters at the 2009 world championships in Mendrisio, Switzerland.

"If in all this you could say something positive, it is that we stop at the top - although I am sure that we could reach even further and higher with this team," said Svenningsen.

Follow Cyclingnews on Twitter for the very latest coverage of events taking place in the cycling world - twitter.com/cyclingnewsfeed