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Having been established in 2015 to financially assist
young developing Irish cyclists, the Emerald Fund has ceased operations due to
lack of sponsor.
While the project had been backed by former top Irish
bike rider turned businessman Mel Sutcliffe, his backing of the fund expired at
the end of last season.
And now having been unable to find a new backer, given
the very difficult circumstances for sports and the business world at present,
Emerald Fund founder Dave O’Connell has announced the closure of the project.
“It is with great sadness we announce the closure of The
Emerald Fund,” a statement from the fund issued earlier today said.
“Having supported the next generation of Irish cycling professionals since 2015 we will not be in a position to continue this support in 2021 and beyond due to lack of sponsorship,” it added, while also thanking Sutcliffe for his support.
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Though his company Quanta Capital Sutcliffe had supported
the project for the past three years; a significant contribution.
The Emerald Fund’s statement added it hoped to return at
some point in the future if possible.
Having been established by Garda CC member O’Connell, the
fund was successful in funding a group of strong young riders in recent
seasons.
In time it hoped to fill the same role in Irish cycling
as the Dave Rayner Fund has so successfully done in Britain for many years.
Among those riders funded by the Emerald Fund were: Adam Stenson, Ben Walsh, Aaron Kearney, James Curry, Jake Gray, Caimin Muldoon, Mark Downey, David McCarthy, Simon Tuomey, Darragh O’Mahony, Ciara Doogan and Stephen Shanahan.
Some of those riders were funded for more than one season, with a particular emphasis on assisting U23 riders who were racing abroad.
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