Old 10-13-2012, 06:41 PM   #1
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No Spidertech in 2013

From VeloNews

Quote:
The Canadian Pro Continental Spidertech-C10 squad announced on Friday that it was “postponing racing activities” for 2013.

“We’re stepping away from continental competition in order to focus our efforts on gaining UCI WorldTour status,” said Steve Bauer, owner of Cycle Sport Management Inc. “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 was missing from the UCI’s roster of 2013 Pro Continental squads last month. When contacted by VeloNews at that time, a team spokesperson said that the squad was expecting to cement a new presenting sponsor prior to the final registration deadline of November 1. That search appears to have stalled and the team will not field an international roster next season.

“CSMI has recently made headway with several potential Canadian corporate sponsors, however more time is required to secure partnerships and solidify future financial commitments,” the team said in a statement on Friday. “CSMI will continue its operation with SpiderTech Inc. as a partner to develop the internal organization.”

Spidertech is home to Americans Lucas Euser, Caleb Fairly, Pat McCarty and Björn Selander, and Canadians including Will Routley, David Boily and Zach Bell. U.S. road champion Timmy Duggan signed with the team for the 2013 season.
The fall out from the USADA report probably isn't going to help in the search for sponsors.
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Old 10-26-2012, 01:34 AM   #2
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Francois Parisien has sighed with Argos-Shimano. Good to see one of the guys will be riding in the big show.
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Old 10-26-2012, 08:53 AM   #3
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Sadly, Zach Bell has had other things to deal with lately.
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Old 10-26-2012, 06:21 PM   #4
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From VeloNews



The fall out from the USADA report probably isn't going to help in the search for sponsors.
And Jim Balsillie, one of the chief backers, isn't flush with money anymore ...
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Old 10-26-2012, 06:53 PM   #5
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Balsille got almost $8 million when he left RIM. I'm sure he's doing just fine.

I don't think the "C10" consortium worked out like they were hoping, since it only had 6 members, and RIM, the major one, likely couldn't keep up their sponsorship for 2013.
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Old 10-31-2012, 04:26 AM   #6
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Balsille got almost $8 million when he left RIM. I'm sure he's doing just fine.

I don't think the "C10" consortium worked out like they were hoping, since it only had 6 members, and RIM, the major one, likely couldn't keep up their sponsorship for 2013.
I'm pretty sure the initial infusion of money into Spitertech was Balsillie's own money, RIM got in on the C10 ... besides, it takes several million a season to finance a WorldTour grade team, something that Spidertech aspired to be by 2014.
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Old 10-31-2012, 04:44 AM   #7
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Jim Balsillie's estimated personal net worth at the end of 2010 was about 1.1 billion. That's AFTER the value of RIM stock tumbled in 2009.

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Old 11-07-2012, 02:09 AM   #8
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Brian Vandborg will ride with Cannondale (Formerly known as Liquigas)

http://www.cyclingnews.com/news/vand...-to-cannondale
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