• The Cannondale-Drapac team at the Vuelta a España teams presentation. (Getty)Source: Getty
After the 2017 Tour de France, where Rigoberto Uran finished second overall, the future of Cannondale-Drapac looked bright, but now its chances of surviving to compete in 2018 are in serious doubt.
Cycling Central

27 Aug 2017 - 7:04 AM  UPDATED 28 Aug 2017 - 5:35 AM

Slipstream Sports (Cannondale-Drapac’s holding company) today announced it had notified riders and staff of that uncertain future.

“Yesterday management received some discouraging news about a new partner we anticipated joining us in 2018,” Slipstream said in a statement.

“Without this partner’s support, we cannot guarantee our financial security and subsequently our UCI WorldTour license for 2017.”

“We remain hopeful that this situation may resolve itself in the next few days and that the team may find new financial backing; however, without this guarantee, we felt an obligation to the individuals who make up our team to notify them of our current situation and give them time to look for their best options.”

Slipstream Sports said it has released all riders and staff from contractual obligations for 2018, allowing them to find employment elsewhere but with the hope of a last minute reprieve.

“All of our current sponsors and partners (Cannondale, Drapac, Oath, POC) have remained committed to support our team in 2018. These sponsors have lived up to their promises; however, without additional financial backing, the numbers simply don’t add up.

“We have several opportunities that we are exploring, and while we remain hopeful, we are not comfortable exposing our staff and riders to the uncertainties of our future, which prompted the team-wide email this morning.

“We need someone to step forward and fill in that last piece of the puzzle. We are open to any conversations with new financial partners and supporters at this time.”

The team recently announced that Uran had signed a three-year deal.

"There are other teams interested in Rigoberto for sure but we wait for one week, two weeks," Uran's agent Giuseppe Acquadro told Cyclingnews. "We hope that Cannondale can find a new sponsor but we have possibilities. We want to give Cannondale more time, and we want to help save the team."

Cannondale-Drapac is currently riding the Vuelta a España with Canadian Michael Woods its best-placed rider in 10th place, just 1min 41sec behind race leader Chris Froome (Sky).