Swedish gambling company Unibet has removed its sponsorship from its title cycling team according to a company statement, leading the team itself to disband. “we expected it. The riders are free to look for a job with other teams” according to former team manager Koen Terryn.
The company’s retreat stems from an ongoing dispute with French race organizers, who did not allow the team to participate in this year’s Tour De France and Paris-Nice road race, due to the French government’s ban on advertising by foreign gambling firms – despite the team’s backing by European Union regulators and the International Cycling Union (UCI).
Unibet’s decision comes at an unfortunate time for cycling. Five days ago Team Discovery Channel – Lance Armstrong’s old team - announced it would disband at the end of the season due to difficulties attracting sponsors arising from recent doping scandals. UCI President Pat McQuaid blamed race organizers for scaring away potential investors and sponsors, noting “if sponsors aren’t guaranteed their team can race, they won’t commit to the sport.”
Last week Unibet released a disappointing financial report noting that the cycling team’s legal troubles added to the company missing financial expectations.
