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06-18-01, 04:43 PM
This article was posted in Bicycling.Com
LeMond, Mercury Part Ways
By Joe Lindsey
A tersely worded press release from Greg LeMond and his Shadetree Sports company announced the company would terminate its sponsorship agreement with the Mercury pro cycling team, effective June 12. It is unclear at this point whether that means simply a withdrawal of equipment sponsor LeMond Bikes, or if it also means that wireless communications firm Viatel is off the team as well.
Viatel had planned on sponsoring its own Division I team this year when it merged operations with Mercury. Mercury director John Wordin is also being sued by former bike sponsor Fuji for breach of contract.
While UCI rules ensure teams hold a portion of their racer payroll in escrow (ensuring the riders get paid even if the team collapses) it's unclear at this point what the team will do for bicycles, or if they will experience other financial difficulties. The Shadetree press release said the company is looking to "energize an independent team for the next racing season." The company declined all requests for interviews, citing confidentiality clauses.
LeMond, Mercury Part Ways
By Joe Lindsey
A tersely worded press release from Greg LeMond and his Shadetree Sports company announced the company would terminate its sponsorship agreement with the Mercury pro cycling team, effective June 12. It is unclear at this point whether that means simply a withdrawal of equipment sponsor LeMond Bikes, or if it also means that wireless communications firm Viatel is off the team as well.
Viatel had planned on sponsoring its own Division I team this year when it merged operations with Mercury. Mercury director John Wordin is also being sued by former bike sponsor Fuji for breach of contract.
While UCI rules ensure teams hold a portion of their racer payroll in escrow (ensuring the riders get paid even if the team collapses) it's unclear at this point what the team will do for bicycles, or if they will experience other financial difficulties. The Shadetree press release said the company is looking to "energize an independent team for the next racing season." The company declined all requests for interviews, citing confidentiality clauses.