Cervélo ends title sponsorship

The bike manufacturer cited "certain subtle changes in the rules that govern pro cycling" in a statement issued late Thursday, meaning the team would have had to increase its budget to ensure participation in the sport's biggest races.

"This is not something with which we are comfortable," the statement said.

"We were okay with the significant commitment we originally made to the team, but to increase it is not prudent."

The team enjoyed a hugely successful debut season in 2009, winning stages and the green jersey in the Tour de France and stages in the Vuelta, with Carlos Sastre, Thor Hushovd and a host of other talented riders on board.

The Pro Continental team remained was set to carry on next year however, the UCI (International Cycling Union) modified its rules for participation in the World Calendar races for 2011, precluding a Pro Continental team from guaranteed participation in the Tour de France.

"We look forward to continued involvement in pro cycling at the highest level with an emphasis on product R&D, as we have since 2003," the statement read.

"To that end, we will announce the details soon."