Lampre received a deadline of March 31 to bring its finances in order or the team will no longer be part of the international racing circuit.
Pat McQuaid, the president of the International Cycling Union (UCI), was quite adamant that this was the last time the deadline would be extended. "If Lampre doesn't have its finances in order by the deadline, then the team definitely has to be removed from the peloton," McQuaid said to Dutch paper De Telegraaf.
"Lampre will not only lose its ProTour license, but will not be eligible to receive a Pro-Continental license. We have given the team enough time, so that they can do what they have to do before all racers and staff find themselves out on the street."
Damiano Cunego and Alessandro Petacchi both ride for Lampre and to have these kinds of problems at this stage is not good for the Italian duo.