Bauer’s Spidertech stops for a season due to financial shortfall
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Friday, October 12, 2012

Bauer’s Spidertech stops for a season due to financial shortfall

by VeloNation Press at 7:46 PM EST   comments
Categories: Pro Cycling
 
Hopes to return at top level in 2014

SpiderTech C10Steve Bauer’s Spidertech C10 squad has been working towards becoming the first Canadian team in the Tour de France, but its path to that goal has been jarred by today’s news that it will not be part of the peloton in 2013.

The squad’s management company Cycle Sport Management Inc. (CSMI) has announced the shock news that it has postponed all racing plans for next year. It said that it would ‘use the upcoming year to focus on acquiring additional corporate sponsorship.’

This season was its second at the Pro Continental level but it needs to move up to being a UCI ProTeam to ensure it is part of the Tour lineup. It states that it has made progress with potential corporate sponsors from Canada, but that it needs more time to consolidate those possibilities and to secure the necessary funding.

Team owner Steve Bauer is disappointed to take the decision, but remains determined to be back and at the sport’s top level in a year and two months.

“We’re stepping away from continental competition in order to focus our efforts on gaining UCI WorldTour status,” he stated. “We have made the decision to focus our efforts entirely on making the jump to the WorldTour in 2014 and have determined that we need to acquire additional financial partnerships to reach this goal.”

The team clocked up three sizeable wins this year, with Ryan Roth netting first in the Tro Bro Léon and the national road race championships, and Francois Parisien winning the Tour of Elk Grove. It also gained a wildcard invite to the Tour de Suisse, its first WorldTour stage race.

A number of riders were contracted for next season, including Timmy Duggan. Spidertech C10 is expected to assist those riders to find new teams and to pay salaries if they are left short.

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