Qhubeka

roscoe

Seems they’re having issues paying riders and staff.

Shame really, they started out with a great ethos.

ddraver

When was the last time they won....anything?? (I mean, god damn, when was the last time they even got on the podium?)

Sad, but the decline has been obvious for a while now

andyp

I think the current problem is that their new sponsor, NextHash, doesn't have the money to sponsor a team. When it was announced I, along with many others, smelt a rat and some conversations with friends in the crypto currency world confirmed my suspicions. Some journalists did digging too, and they raised lots of concerns, which seem to have been borne out.

The 'entrepreneur' behind NextHash has a history of failed companies, which any due diligence from Doug Ryder and his commercial should have found and raised concerns.

No_Ta_Doctor

ddraver said:

When was the last time they won....anything?? (I mean, god damn, when was the last time they even got on the podium?)

Sad, but the decline has been obvious for a while now

3 stages in the Giro, which at WT level is actually an improvement on recent years. They've never really been prolific, but having Qhubeka on board and bringing African riders to races meant they always had a lot of goodwill. NextHash seems to have been a disaster for them, and I thought it was a poor fit as sponsor just for the crypto stuff, even before I heard the stories about the company.

It felt like they lost their way a little when they moved up to WT, the promised route into Europe for African cyclists didn't ever really emerge, except for a couple of South Africans. I think everyone was hoping to see loads of Eritreans, Rwandans etc.

RichN95.

I think it would be a good idea for Qhubeka to be absorbed in Israel Start-Up and give a protected WT status on the proviso that they develop riders from developing countries. (ISN have strong links to Rwanda as well as Israel)

Lanterne_Rogue

Presumably it turns out you can't pay anyone with the NFT for a picture of some dollars.

Due diligence or a case of giving it a go and hoping something turned up before they ran out of cash?

No_Ta_Doctor

Lanterne_Rogue said:

Presumably it turns out you can't pay anyone with the NFT for a picture of some dollars.

Due diligence or a case of giving it a go and hoping something turned up before they ran out of cash?

Possibly a touch of desperation. Doug's had his fingers singed before, Riis was supposed to bring some financial backing that never arrived...

schlepcycling

Are Assos still involved? other that just supplying kit, could they go back to Qhubeka-Assos?. Also I thought sponsors had to deposit a bond with the UCI to cover a certain number of months wages brought in after the Coast/LeGroupment problems in the mid/late 90s.

jimmythecuckoo

Could Burberry step up their involvement to cover it for a period maybe?

theknowledge

Sure I saw a rumour that premier tech might sponsor then since they've ditched Astana.

andyp

It's being reported this morning that the riders have been paid their August wages.

dish_dash

andyp said:

It's being reported this morning that the riders have been paid their August wages.

In crypto?

ddraver

According to my epic crypto portfolio (lololol) that might not be such a bad thing this month...

salsiccia1

theknowledge said:

Sure I saw a rumour that premier tech might sponsor then since they've ditched Astana.

That wouldn't be the worst outcome in the world. Here's hoping

jimmythecuckoo

Doesn't look good for them does it?

Time is running out for a new sponsor to come in.

Maybe the Manuela Foundation will step up