Bike manufacturer Cervélo said Wednesday that it would not continue as a cycling team title sponsor after the end of the 2010 season.
“Certain subtle changes in the rules that govern pro cycling, have established a trend towards bigger budgets to ensure participation in all the big races, and this is not something with which we are comfortable,” the team said in a statement. “We were okay with the significant commitment we originally made to the team, but to increase it is not prudent. ”
The company said it would continue to be involved with product testing “at the highest levels of the sport,” and would announce details soon.
Cervelo announced in August 2008 that it was forming a new team, after sponsoring Team CSC-Saxo Bank since 2002. Recent stories in the European press have said the TestTeam would merge with Garmin-Transitions. A source familiar with the situation told VeloNews that Cervelo is set to become the bike sponsor for Garmin team, which is currently sponsored by Felt Bicycle. Officials with Garmin-Transitions, Felt and Cervelo have declined to comment.
Cervelo’s top GC rider, 2008 Tour de France winner Carlos Sastre, announced earlier this month that he was joining the Geox team for 2011.