What's happened to Cannondale Drapac
Comments
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Just Vaughters' twitters and this from cyclist.co.uk so far ...
"Slipstream Sports, the company behind WorldTour side Cannondale-Drapac, have reportedly secured sponsorship for next season, ending the possibility of the team ceasing to exist next year.
A source close to the team was unable to name the sponsor but did suggest that the financial backers will be from outside of the bike industry, and that this will be their first venture into a professional cycling sponsorship.
Whether this company will supply the full $7 million said to be needed to save the team is unknown, but it is expected to be a sizeable amount therefore securing primary naming rights of the team.
The sponsors could be unveiled as early as tomorrow, with the staff and riders having already been informed of the news."0 -
andyp wrote:Sun Dodger wrote:Looks like it might be some good news for the folks at Cannondale, but still a sport with big issues. Maybe three big organizers making lots of cash on a sustainable basis (ASO, RCS and Flanders), then the Teams and other races living a hand to mouth existence.
Show your workings.
Given the organizers are privately held, numbers are of course difficult to come by, though reports of ASO profits of ~Eur50m on revenues of about four times that seem credible to me.
On the other hand, teams and smaller races are going under every year, invariably for financial reasons. :?0 -
Sun Dodger wrote:andyp wrote:Sun Dodger wrote:Looks like it might be some good news for the folks at Cannondale, but still a sport with big issues. Maybe three big organizers making lots of cash on a sustainable basis (ASO, RCS and Flanders), then the Teams and other races living a hand to mouth existence.
Show your workings.
Given the organizers are privately held, numbers are of course difficult to come by, though reports of ASO profits of ~Eur50m on revenues of about four times that seem credible to me.
On the other hand, teams and smaller races are going under every year, invariably for financial reasons. :?
RCS part of a listed entity, non?0 -
So they are.
Can't make head nor tail of their website though....0 -
Sun Dodger wrote:andyp wrote:Sun Dodger wrote:Looks like it might be some good news for the folks at Cannondale, but still a sport with big issues. Maybe three big organizers making lots of cash on a sustainable basis (ASO, RCS and Flanders), then the Teams and other races living a hand to mouth existence.
Show your workings.
Given the organizers are privately held, numbers are of course difficult to come by, though reports of ASO profits of ~Eur50m on revenues of about four times that seem credible to me.
On the other hand, teams and smaller races are going under every year, invariably for financial reasons. :?
ASO run races that lose money, like Paris-Nice, but use the profits from the Tour to subsidise the race.
Even if the figure of €50 million profit was accurate, and ASO decided to profit share at a 50/50 split between them and the teams in their races, that would equate to a figure of approx €1m per team. RCS and Flanders Classics do not make much in the way of profit, so even if we were generous and said they'd pay the same amount, that's an additional €2m per team. Cannondale-Drapac would still be €5m short.0 -
Did I miss the big new sponsor announcement that was due yesterday?
Cycling news hinting that the classics line up may leave regardless.0 -
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I'm quite enjoying how people are getting all moral about Unibet now. Didn't seem to whinge before they pulled outFckin' Quintana … that creep can roll, man.0
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"Science is a tool for cheaters". An anonymous French PE teacher.0
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Blazing Saddles wrote:
That's a bit of an odd one, but any port in a stormIt's only a bit of sport, Mun. Relax and enjoy the racing.0 -
Salsiccia1 wrote:Blazing Saddles wrote:
That's a bit of an odd one, but any port in a storm
Ruby for me0 -
I prefer a tawny myself, but I'm not that fussy if I'm being honest.Correlation is not causation.0
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The team will be known as EF Education First - Drapac powered by Cannondale. just rolls off the tongue doesn't it
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Richmond Racer 2 wrote:Salsiccia1 wrote:Blazing Saddles wrote:
That's a bit of an odd one, but any port in a storm
Ruby for me
Oooh, I could murder a ruby now. Maybe even with some cheese and port after.Warning No formatter is installed for the format0 -
andyp wrote:Sun Dodger wrote:andyp wrote:Sun Dodger wrote:Looks like it might be some good news for the folks at Cannondale, but still a sport with big issues. Maybe three big organizers making lots of cash on a sustainable basis (ASO, RCS and Flanders), then the Teams and other races living a hand to mouth existence.
Show your workings.
Given the organizers are privately held, numbers are of course difficult to come by, though reports of ASO profits of ~Eur50m on revenues of about four times that seem credible to me.
On the other hand, teams and smaller races are going under every year, invariably for financial reasons. :?
ASO run races that lose money, like Paris-Nice, but use the profits from the Tour to subsidise the race.
Even if the figure of €50 million profit was accurate, and ASO decided to profit share at a 50/50 split between them and the teams in their races, that would equate to a figure of approx €1m per team. RCS and Flanders Classics do not make much in the way of profit, so even if we were generous and said they'd pay the same amount, that's an additional €2m per team. Cannondale-Drapac would still be €5m short.
The amounts aren't really the issue. The fact that only a few families/organizations make any money out of Professional Cycling is where the problem is.
If we agree the Amaury's make 50M a year and a few others a bit less, while everyone else looks to break even, then clearly there are problems in the sport.0 -
Sun Dodger wrote:andyp wrote:Sun Dodger wrote:andyp wrote:Sun Dodger wrote:Looks like it might be some good news for the folks at Cannondale, but still a sport with big issues. Maybe three big organizers making lots of cash on a sustainable basis (ASO, RCS and Flanders), then the Teams and other races living a hand to mouth existence.
Show your workings.
Given the organizers are privately held, numbers are of course difficult to come by, though reports of ASO profits of ~Eur50m on revenues of about four times that seem credible to me.
On the other hand, teams and smaller races are going under every year, invariably for financial reasons. :?
ASO run races that lose money, like Paris-Nice, but use the profits from the Tour to subsidise the race.
Even if the figure of €50 million profit was accurate, and ASO decided to profit share at a 50/50 split between them and the teams in their races, that would equate to a figure of approx €1m per team. RCS and Flanders Classics do not make much in the way of profit, so even if we were generous and said they'd pay the same amount, that's an additional €2m per team. Cannondale-Drapac would still be €5m short.
The amounts aren't really the issue. The fact that only a few families/organizations make any money out of Professional Cycling is where the problem is.
If we agree the Amaury's make 50M a year and a few others a bit less, while everyone else looks to break even, then clearly there are problems in the sport.
Like in every walk of life, you can distribute the wealth evenly but some will still go bust whilst others thrive. The politics of envy and "fairness" are a busted flush.0 -
“New York has the haircuts, London has the trousers, but Belfast has the reason!0
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Rick Chasey wrote:dish_dash wrote:Did I miss the big new sponsor announcement that was due yesterday?
Cycling news hinting that the classics line up may leave regardless.
By that you mean Sep and Langeveld?
Yeah. And I think Van Baarle is also off...0 -
Judging by their tweets in the last couple of days Vanmarcke and Langeveld are staying put.dish_dash wrote:Rick Chasey wrote:dish_dash wrote:Did I miss the big new sponsor announcement that was due yesterday?
Cycling news hinting that the classics line up may leave regardless.
By that you mean Sep and Langeveld?
Yeah. And I think Van Baarle is also off...Twitter: @RichN950 -
An extract from Phil Gaimon's soon to be released book;
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Above The Cows wrote:I prefer a tawny myself, but I'm not that fussy if I'm being honest.
I can make a killer reduction from ruby and some other stuff that makes every girl tasting it, instantly fall in love. I use it with caution!No tA Doctor wrote:Richmond Racer 2 wrote:Salsiccia1 wrote:Blazing Saddles wrote:
That's a bit of an odd one, but any port in a storm
Ruby for me
Oooh, I could murder a ruby now. Maybe even with some cheese and port after.
PTP Champion 2019, 2022 & 20230 -
Vino'sGhost wrote:Sun Dodger wrote:andyp wrote:Sun Dodger wrote:andyp wrote:Sun Dodger wrote:Looks like it might be some good news for the folks at Cannondale, but still a sport with big issues. Maybe three big organizers making lots of cash on a sustainable basis (ASO, RCS and Flanders), then the Teams and other races living a hand to mouth existence.
Show your workings.
Given the organizers are privately held, numbers are of course difficult to come by, though reports of ASO profits of ~Eur50m on revenues of about four times that seem credible to me.
On the other hand, teams and smaller races are going under every year, invariably for financial reasons. :?
ASO run races that lose money, like Paris-Nice, but use the profits from the Tour to subsidise the race.
Even if the figure of €50 million profit was accurate, and ASO decided to profit share at a 50/50 split between them and the teams in their races, that would equate to a figure of approx €1m per team. RCS and Flanders Classics do not make much in the way of profit, so even if we were generous and said they'd pay the same amount, that's an additional €2m per team. Cannondale-Drapac would still be €5m short.
The amounts aren't really the issue. The fact that only a few families/organizations make any money out of Professional Cycling is where the problem is.
If we agree the Amaury's make 50M a year and a few others a bit less, while everyone else looks to break even, then clearly there are problems in the sport.
Like in every walk of life, you can distribute the wealth evenly but some will still go bust whilst others thrive. The politics of envy and "fairness" are a busted flush.
Do you write for The Torygraph?
Nothing wrong with folk making money, but fairness should be a given, whatever the enterprise.0 -
Interesting piece on cyclingtips.
It appears that Doug Ellis has sold his majority stake in Slipstream Sports to EF, so Vaughters is no longer top dog there (though remains on the board).
Rolland was blindsided by the funding crunch and is so grumpy he is no longer talking to Vaughters.
Vaughters admits 'hot-rodding' the books to survive this past year - i.e. only budgeting to run the team into the ground in 2017 with the last couple months of payments coming from the UCI guarantee.0 -
dish_dash wrote:
Vaughters admits 'hot-rodding' the books to survive this past year - i.e. only budgeting to run the team into the ground in 2017 with the last couple months of payments coming from the UCI guarantee.
I'm starting to think cycling would be better off without him.
He served a purpose but now....Fckin' Quintana … that creep can roll, man.0 -
I tend to agree. All his MBA guff doesn't seem to have helped his management skills. Wonder what his personal stake in Slipstream was and if he gets a pay out?0
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The company changing hands is no bad thing. Might shake it up a bit.0
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iainf72 wrote:dish_dash wrote:
Vaughters admits 'hot-rodding' the books to survive this past year - i.e. only budgeting to run the team into the ground in 2017 with the last couple months of payments coming from the UCI guarantee.
I'm starting to think cycling would be better off without him.
He served a purpose but now....
AgreedIt's a little like wrestling a gorilla. You don't quit when you're tired. You quit when the gorilla is tired.0 -
Oath dropped out today. Still not sure what they actually brought to the party as, by all accounts, it certainly wasn't cash.0
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andyp wrote:Oath dropped out today. Still not sure what they actually brought to the party as, by all accounts, it certainly wasn't cash.
That sort of thing hardly backs up their brand name. I'll bet it's got Vaughters swearing too.It's only a bit of sport, Mun. Relax and enjoy the racing.0
