New funding sought as lead title sponsor goes into administration
Bike Channel-Canyon will continue to race as a UCI Continental team in 2018, despite the collapse of the eponymous TV channel.
The TV channel has shared title sponsorship for the British UCI team alongside Canyon this season, but it appointed administrators last Friday.
Tim Elverson, the racing team’s manager, signed a three-year deal with Bike Channel and Canyon last autumn, and Canyon had already promised more funds for the 2018 campaign.
Cycling Weekly understands that some secondary sponsors, including Eisberg and Brother, have also agreed to inject increased funds that, even with Bike Channel’s potential withdrawal, will keep the team’s budget at £250,000, the amount they have operated on in their debut season.
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