Posted by Editor on 08/20/14
In what was a bit of a bombshell announcement today, Slipstream Sports, Jonathan Vaughter's company that controls the Garmin-Sharp WorldTour team, says that they have sold an ownership stake in the company to Dorel-owned Cannondale, who will become a title sponsor of the team next year as well as the bike supplier. Garmin will remain a 'significant' sponsor, and Slipstream will manage the team operations. The team roster will be announced at a later date, although existing team contracts for riders such as Ryder Hesjedal will be honoured. The agreement runs through 2017.
"Cannondale is excited to team up with Slipstream to create the next evolution of Cannondale Pro Cycling with the most progressive and innovative team in the peloton," said Peter Woods, President and CEO, Dorel Recreational/Leisure. "Professional athletes play a key role in testing our products in some of the most extreme conditions worldwide helping us to create the perfect ride for our consumers. We are thrilled about progressing our product development approach while bringing exciting racing to our fans around the world."
"Slipstream Sports and Cannondale share key philosophies of a focus on innovation, developing the next generation of champions and a commitment to ethical sport," said Jonathan Vaughters, CEO of Slipstream Sports. "We are happy to work with another company, that, like Garmin, so closely shares our goals. We will be adding some great talent to an already outstanding roster and we believe the team will build on past successes and will produce very exciting racing in 2015. We look forward to what we can achieve together, both on and off the road."
This will leave current bike sponsor Cervélo out of the WorldTour peloton unless they sign on with another team - they had previously announced they will be sponsoring pro continental squad MTN-Qhubeka in 2015. It also means one less WorldTour team at present, since the merger involves two current teams in the first division.
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