Pegasus Sports riders looking for other teams



steve

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Quote: cyclingnews Pegasus Sports riders looking for other teams At least six riders from the Pegasus Sports team have begun to look for places in other teams after the Australian team failed to secure a Professional Continental licence from the UCI.
On Friday the UCI announced that 23 teams have secured a licence to compete in cycling’s second division in 2011 after a series of financial, ethical and administrative checks where carried out on each team’s application.
Links: http://www.cyclingnews.com/news/pegasus-sports-riders-looking-for-other-teams


Quote: velonation Pegasus Sports uncertainty prompts some riders to inquire with rival squads This concern is downplayed by directeur sportif Ed Beamon, who worked with the sister team Fly V Australia this year and is due to take up a similar role with the new squad in 2011. He is aware that there is confusion and concern but told VeloNation that as far as he is concerned, there is no need for panic.
“We have been granted an extension by the UCI based on some administrative details that need to be clarified by them [the Pegasus Sports owners],” he stated. “Because of the deadline, we were compelled to ensure that the team – the riders and the staff and everybody – realised that we were still sorting out some details.
Link: http://www.velonation.com/News/ID/6683/Pegasus-Sports-uncertainty-prompts-some-riders-to-inquire-with-rival-squads.aspx

There are a lot of things that don’t add up. No sponsors, several riders don't have signed contracts, delayed announcements. Hopefully it works out, the team will be great for Australian cycling. 2011 Pro Continental teams
Acqua & Sapone ITA Andalucia – Caja Granada ESP Androni Giocattoli ITA Bretagne-Schuller FRA Caja Rural ESP CCC Polsat Polkowice POL Colnago – CSF Inox IRL Cofidis FRA Colombia es Pasion – Cafe de Colombia COL De Rosa -Ceramica Flaminia IRL Europcar FRA Farnese Vini – Neri Sottoli GBR Geox – TMC ESP FDJ FRA Landbouwkrediet BEL Saur – Sojasun FRA Skil – Shimano NED Team Netapp GER Team Spidertech Powered by C10 CAN Team Type 1 USA Topsport Vlaanderen – Mercator BEL UnitedHealthcare Pro Cycling USA Verandas Willems – Accent BEL
 

steve

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Quote:velonation.com Pegasus Sports owner Chris White denies media reports team has collapsed the Pegasus Sports team is not finished but still fighting to raise enough funding to secure UCI Pro Continental backing. The team confirmed this evening that its main backer for 2011 had walked away from the project, but disputed media reports that it had collapsed. It insists that there is still a chance of saving the team, and that it is working with several parties to secure the necessary funding to get a UCI Pro Continental team licence. Link: http://www.velonation.com/News/ID/6704/Pegasus-Sports-owner-Chris-White-denies-media-reports-team-has-collapsed.aspx




Quote: cyclingnews.com Pegasus Sports owner pulls plug on team White left with no current options to continue

It appears that Pegasus Sports may fail to even exist in 2011, let alone become a Professional Continental team.

It also confirmed that the team will not receive a Professional Continental licence, although an extension has been granted until midway through this week.

Link: http://www.cyclingnews.com/news/pegasus-sports-owner-pulls-plug-on-team

Well this is bad news for everyone involved! /img/vbsmilies/smilies/icon13.gif
 

steve

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Three days to find a couple of million bucks. Can it get any more stressful or nightmarish for White and his team, who appear to be floundering in quicksand?



Quote:sbs.com.au Pegasus, bloodied, vows to fly again The wings of Pegasus are torn and bloodied, but its owner Chris White refuses to believe the regal beast can’t fly again. “We’ve got our work to do – this is very serious – but we think we can get the process completed,” White told Cycling Central today, contradicting reports that Pegasus Sports nascent Pro Continental team has already disbanded. “Like a lot of teams that have to operate, a part of our funding was private equity funding. And on Tuesday last week, I was advised there was some retraction in funding out of that space,” he said of the decision made by the unnamed principal sponsor to withdraw commitment to the team. “What happened last week was that I didn’t have enough time to deal with that situation and adequately complete the process with the UCI, so at the last minute, I had to apply for an extension in time. And I wouldn’t have applied for that extension, had I thought we [did not] have a chance of replacing that funding.” Link: http://www.sbs.com.au/cyclingcentral/news/19021/Pegasus,-bloodied,-vows-to-fly-again
 

baker3

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I think the writing is on the wall for this team, it's a sad way for Robbie to leave the sport, unless he can find another team.
 

steve

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Here is an excellent article authored by Anthony Tan http://www.sbs.com.au/cyclingcentral/news/19046/Pegasus-problems-date-back


Pegasus problems date back To begin with, Pegasus Sports CEO, Chris White, said he was going to announce the title sponsor of what was believed to be Australia’s first ProTeam during this year’s road world championships in Geelong, Victoria, held from 27 September–3 October. Theory vs. Reality

A few days after the 2 November release, White told Cycling Central any team that applied for a ProTeam licence and was rejected automatically receives a Pro Continental licence.

On 4 November, we said to White, “Just to reaffirm – your primary backer or backers will not alter their commitment or budget as a result of the UCI’s decision to grant you Pro Continental status?”


[SIZE= 48px]“The primary guys are fine.”[/SIZE]





Quote:
That appeared to indicate that at least one second-tier sponsor would join, but only on the proviso that the team receive a ProTeam licence.

Quote:
A fortnight after the Pegasus camp, when Cycling Central spoke with Tour Down Under race organiser Mike Turtur, he was hesitant to reveal his feelings about offering any wildcard invitations till 10 December.

“Once we get to that process, as an organisation, we have budget considerations to make, and other logistical issues that need to be dealt with before we even consider a wildcard for anyone,” said Turtur, also the president of the Oceania Cycling Federation.



[SIZE= 48px]“The UCI was very keen to eyeball me”[/SIZE]

Quote:

Ten December came and went – 23 teams were given the green light to run a Pro Continental licence for the 2011 season and thus be eligible for wildcard spots on the 26-event UCI World Calendar. Pegasus Sports was not one of them.



[SIZE= 48px]Less than 72 hours to make it happen[/SIZE]
 

steve

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It will be interesting to see where the funding comes from, hopefully it works out for the team and riders.

Quote: cyclingnews.com White secures financial backing for Pegasus
Pegasus Sports team manager Chris White has confirmed to Cyclingnews that the team now has the financial backing to complete its UCI Professional Continental licence application. The team were given until 4pm CET today to file their complete documentation or face exiting the sport and leaving staff and riders without jobs for 2011. The Australian team had failed to attain a ProTeam licence and ProContinental licence during previous attempts. Link: http://www.cyclingnews.com/news/white-secures-financial-backing-for-pegasus



Quote: theage.com.au Dollar dash may save dream of Australian tour team A LAST-MINUTE scramble to secure more than $1 million appears to have resurrected a thus far calamitous attempt to form Australia's first Tour de France-bound cycling team. Robbie McEwen, who was the headline signing by the Pegasus Sports outfit that recently lost both its major sponsor and its bid for a ProTour licence, remained silent on the delicate situation yesterday, but the champion Australian is one of 24 riders whose careers are on the line after their leap of faith with the ambitious project. Link: http://www.theage.com.au/sport/cycling/dollar-dash-may-save-dream-of-australian-tour-team-20101215-18y6z.html
 

Scotttri

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Hopefully things work out, it would be terrable for australian cycling and put any other attempts to form such teams well in the back burner.
 

steve

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Press release - Pegasus Sports: registration refused 20.12.2010 On the basis of the file submitted to it within the established deadline and taking into account the opinion of Ernst & Young, the UCI Licence Commission today decided to refuse the registration of the Australian team Pegasus Sports as a UCI Professional Continental Team. This decision brings the registration procedure for 2011 to a close for first and second division. Therefore, there are 23 teams registered as UCI Professional Continental Teams for next season. UCI Press Service


http://www.uci.ch/Modules/ENews/ENewsDetails.asp?id=NzE3Mg&MenuId=MTYxNw&LangId=1&BackLink=/Templates/UCI/UCI5/layout.asp%3FMenuID%3DMTYxNw%26LangId%3D1
 

Scotttri

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Wow a bit of a sad day for Australian cycling. It's a shame no big companies in AUS were willing to jump on board here. Or perhaps were not aproached.
 

steve

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Quote: Originally Posted by Scotttri .

Wow a bit of a sad day for Australian cycling. It's a shame no big companies in AUS were willing to jump on board here. Or perhaps were not aproached.



To true, I was looking forward to following them next year /img/vbsmilies/smilies/frown.gif

I guess the riders who were riding in protour teams last year will find another team easy enough. The young guys at least have time on their side, other opportunities will come along. Some of the others are getting on a bit, now is probably a good time to think about getting an education or a career change.
 

steve

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Here is an interesting article about the collapse of the team.


Foal Play Down Under?

Pegasus, the team named after a mythical horse, believed it secured a last minute reprise and sent new documentation to Switzerland. This turned out to be unsatisfactory and the UCI sent the team to the knacker's yard. I could write plenty about this process being unsatisfactory, it should not be the case that a team isgenuinely surprised if the rules are objective.

This could have been the most exciting venture in Australian cycling since The Melbourne Herald and The Sporting Globe in Australia started a fund in late 1927 to pay for an Australasia team, with Hubert Opperman, to go the Tour de France.

But instead Pegasus has faced headwinds in Australia. What could have been a unifying national project for Aussie cyclists has prompted a minor turf war with someallegations of dirty tricks.
Link: http://theinnerring.blogspot.com/2010/12/foal-play-down-under.html