The latest breaking news in the cycling world comes from Ireland where the first professional cycling squad of the country, Aqua Sport, has decided to go out of business by the end of this season.
The two-year old team has said during an official statement on twitter that they are now preparing to wrap up their entire operation. The weirdest part is, only a few weeks back, the team announced that they had acquired Belgian outfit Verandas Willems-Cerlan. This happened at the same time that people thought they were searching for an amalgamation.
Dear supporters, please find attached a statement regarding the future of team Aqua Blue Sport. pic.twitter.com/w4Zn2KKIDl
— Aqua Blue Sport (@AquaBlueSport) August 27, 2018
Now, the timing of Aqua Blue Sport’s announcements and actions has left many shocked.
Losing money
The squad has been backed by Cork-born, famous businessman Ricky Delaney. Delaney only recently stated that he had sunk 7 million euros of his own money into Aqua Blue Sport’s project.
“We, Aqua Blue Sport, started this project over two years ago with huge ambition, gusto and optimism that we could actually make a difference,” the official statement read.
“This year we have found it increasingly difficult to obtain race invitations and recognition from race organisers in how unique and how well supported our project should be. Aqua Blue Sport cycling team have been negotiating tirelessly with another Pro Continental team regarding an acquisition/partnership.
“Over the past weeks we had formed the basis of an agreement many times. But, unfortunately, common sense did not prevail,” they added.
