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Cycling Road – Armstrong’s Astana team still in financial trouble

   Posted by: admin   in Cycling, Road Bike

Lance Armstrong’s cash-strapped Astana team are not yet out of the financial woods, team manager Johan Bruyneel said at the Giro d’Italia on Sunday.

The International Cycling Union (UCI) set Sunday as a deadline for the Kazakh-based team to meet its financial requirements after the riders complained their salaries were not being paid.

The UCI has threatened to withdraw Astana’s Pro-Tour licence.

“The financial woes that left salaries unpaid are not completely resolved yet,” Bruyneel said in a team statement.

“I hope that the team sponsors will meet the deadline for the bank guarantee and the payments. Moreover the UCI now wants more guarantees about the team for the rest of the year.”  …  Details

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This entry was posted on Tuesday, June 2nd, 2009 at 3:23 pm and is filed under Cycling, Road Bike. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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