UCI Denies Team Pegasus Pro Continental License

The International Cycling Union (UCI) earlier today announced that Pegasus Sports will not receive a UCI Professional Continental license for 2011.

The team's status was in doubt after its major financial backer withdrew on the eve of the UCI's license application deadline, leaving the organization scrambling to find other sources of funding which would enable the team to compete in the 2011 season.

"We are shocked that the license was denied," Chris White, Pegasus Sports CEO commented.

"The team was already prepared for the 2011 season and we worked really hard after the news from last week. Significant cost reductions were made and additional sponsorship both from within our existing sponsor base and an external group was gathered, in order to stabilise the team financially in the short term," White continued.

White concluded "The people within the organisation were at the centre of this action and commitment, which is a real testament to the mateship within the team. We do not want to give up. The team is exploring whether there are other options for next year."

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Team Pegasus Loses Financial Backing and Pro Continental Team Status

Pegasus Sports, the company behind the pro cycling Team Pegasus, earlier today reported that it has been notified by its principal financial backer of the fact that financial support for the Pegasus Sports Professional Cycling project has been retracted.

As a result of these changed circumstances, Team Pegasus was not granted a Professional Continental license by the UCI Licensing Commission as expected last Friday. The UCI Licensing Commission has, however, granted Pegasus Sports and its licence application an extension until Wednesday, December 15, 2010.

According to a team spokesman, Pegasus Sports is currently working with a number of parties to secure the necessary funding to guarantee the project's future and ensure that the UCI's requirements for a Professional Continental license are met in accordance with the UCI's revised timeline.

"The current reports by some media outlets that the team has [already] folded are not correct,"? Pegasus Sports CEO Chris White commented.

"I have not spoken to any of these media outlets and what is being currently reported is false and most detrimental to a very exciting project. All people associated with the Team [Pegasus] are aware of the true circumstances and we continue to work towards meeting the UCI deadline," White concluded.

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Team Pegasus Loses Financial Backing and Pro Continental Team Status

Pegasus Sports, the company behind the pro cycling Team Pegasus, earlier today reported that it has been notified by its principal financial backer of the fact that financial support for the Pegasus Sports Professional Cycling project has been retracted.

As a result of these changed circumstances, Team Pegasus was not granted a Professional Continental license by the UCI Licensing Commission as expected last Friday. The UCI Licensing Commission has, however, granted Pegasus Sports and its licence application an extension until Wednesday, December 15, 2010.

According to a team spokesman, Pegasus Sports is currently working with a number of parties to secure the necessary funding to guarantee the project's future and ensure that the UCI's requirements for a Professional Continental license are met in accordance with the UCI's revised timeline.

"The current reports by some media outlets that the team has [already] folded are not correct,"? Pegasus Sports CEO Chris White commented.

"I have not spoken to any of these media outlets and what is being currently reported is false and most detrimental to a very exciting project. All people associated with the Team [Pegasus] are aware of the true circumstances and we continue to work towards meeting the UCI deadline," White concluded.

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Team Pegasus Signs Knees, Rohregger and Eichler

Team Pegasus earlier today announced the signing of Austrian Thomas Rohregger and German riders Christian Knees and Markus Eichler.

In 28-year-old Markus Eichler, Team Pegasus gains an experienced classics rider. The German, who signed his first professional contract in 2006, rode for Team Milram during the past three seasons. In 2010 he claimed the victory in the Profronde van Fryslan in the Netherlands.

Christian Knees, another former Team Milram rider, proved his excellent cycling skills early in his youth by capturing bronze in the time trial at the 1999 Junior World Championships. Over the past 11 years, Knees has progressively transitioned from being a classics rider to a grand tour rider and finished 21st in the Tour de France in 2009.
Knees' greatest successes include the German national championship title in 2010 in the road race, overall victory in the Tour of Bavaria in 2008 and victory in the traditional German race Rund um K?ln back in 2006.

Thomas Rohregger completes the German-speaking trio coming from Milram. The talented 27-year-old rider is a climbing specialist and has already won several climber's jerseys - in races such as the 2010 Tour Down Under, the 2006 Tour of Austria, and the Tour of Luxembourg. Rohregger celebrated his greatest victory on home soil when he won the 2008 Tour of Austria.

"I am pleased that our team is growing and becoming more international," Pegasus Sports CEO Chris White commented when asked about the latest rider signings. White added "With these three German-speaking riders we have gained experienced professionals who have not yet fully realized their potential. All of them, whether climbers or all-rounders, bring skills that will help us achieve our goals for the upcoming season."

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