Qhubeka-NextHash withdraws WorldTour license application as sponsor search continues

Qhubeka-NextHash withdraws WorldTour license application as sponsor search continues

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Qhubeka-NextHash will not be part of the sport’s top tier in 2022.

The team confirmed Friday that it has been forced to withdraw its application to the WorldTour for next season as its sponsor crisis deepens.

“Today we are not in a position to submit our initial application for our UCI WorldTour license for next year to the sport’s governing body,” team principal Doug Ryder said in a media release Friday.

Qhubeka-NextHash has been on the tightrope for several months, with reports suggesting the squad failed to meet UCI financial benchmarks through the fall.

Ryder confirmed to VeloNews earlier this month that crypto-currency platform NextHash would no longer be title sponsor of the African-registered squad, and that the team’s riders have been freed of contractual obligations.

Despite Ryder’s previous optimism that the charitable project could be saved, it seems as of Friday that the much-needed deals have still not been done. Ryder did however leave the door open to the possibility of a late-hour contract coming together.

“We are actively engaged with potential partners, and our current partners, as we work to secure our future for 2022,” he said.

The South African staffer closed his message Friday with a direct request for assistance.

“We are completely unique across the sporting landscape as a purpose-led organization that during the course of our decade-long partnership with Qhubeka has seen our team raise over $6 million for the charity, and in the process changed thousands of lives,” Ryder said.

“We remain confident that our story is not complete, our journey will carry on, to continue to change lives through bicycles.”

“If you, or any of your business network, want to partner with our team and keep changing lives, please contact us. Thank you for your support.”

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