Team owner Kristy Scrymgeour, co-founder of Velocio Sports announces on Monday that Velocio-SRAM will be folding at the end of the year.

Velocio Sports, owners of the Velocio-SRAM women’s professional team, announced Monday that the team would be folding at the end of the season. Team owner Kristy Scrymgeour said she is ready for a new challenge, but she will stay involved in the sport through the two companies she co-founded last year, Velocio Apparel and Ally’s Bar brands.

“It’s been a rewarding time,” Scrymgeour said. “I’ve really enjoyed the challenge and the people I’ve had the chance to work with and I’m really proud of what we’ve achieved over the years.

Scrymgeour has spent the last nine years running profession women’s cycling teams, beginning with the Highroad program owned by Bob Stapleton. After the team folded in 2011, she created Team Specialized-Lululemon, which evolved into the present-day Velocio-SRAM outfit.

Velocio-SRAM is not folding due to a lack of results. This year alone, the team has taken the general classification in five stage races, including the Aviva Women’s Tour and the inaugural edition of the Amgen Tour of California Women’s Race. Furthermore, the team boasts current world time trial champion Lisa Brennauer, as well as newly crowned European Games road race champion Alena Amialiusik.

“It’s especially been a pleasure to work with industry partners and media who are supportive of the women’s side of the sport,”Scymgeour added. “It’s exciting to see increased interest in women’s cycling, and I look forward to seeing that interest turn into growth and more opportunities for women in cycling in the future. I believe in these riders, and I believe in women’s cycling, and I will continue to advocate for growth in the sport.”

The announcement comes at a critical time, as the transfer season opened on August 1. Velocio-SRAM will attempt to go out on top at the UCI Team Time Trial World Championships in Richmond at the end of September. Scymgeour’s teams are undefeated in the discipline.