Mitchelton-Scott sale and new title sponsor deal collapses amid chaos

Plans for the Spanish charity, Manuela Fundación, to immediately take over the sponsorship of Mitchelton-Scott and to also become owners of the team have collapsed.

GreenEdge Cycling, which owns the team, has said in a
statement the deal will not be happening despite having announced it itself
last week.

Yesterday team owner Gerry Ryan clashed with personnel from
Manuela Fundación when he stated he still owned the team despite reports to the
contrary and statements from the Spanish entity claiming it owned team.

Ryan added he was keeping his options open for next year, though the Spanish charity said it had a deal to sponsor the team immediately and own it from the start of next year.

“We felt a strong initial connection with Mr Francisco Huertas, the Manuela Fundación and their noble aims,” team founder and principal Gerry Ryan said in a press release on Thursday confirming the collapse of the deal.

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“However, as the negotiations have evolved after the initial announcement on Friday, we have concluded that the relationship will not proceed. We wish Mr. Francisco Huertas and the Manuela Fundación all of the best for the future." 

The statement added the team’s men’s and women’s squads
would return to racing next month under the existing Mitchelton-Scott sponsorship
with a £fully supported financial and technical structure provided by Ryan”.

“The Covid19 global crisis has thrown up many new challenges, but our primary focus remains on our world-class athletes and support staff,” Gerry Ryan said.

“This will include a return to full wages for all riders and staff once WorldTour racing commences in August, and a commitment to the year 2021 as we search for a suitable sponsorship.

“We believe in this team, and the people and culture that have made it so successful these past eight years.

"Our riders have been inspiring in their commitment and motivation in what has been an uncertain season, and our staff loyal and determined to provide the best service possible in what will be a busy and challenging end to the year.  We can’t wait to get back on the road and start winning more races.”