LTA Prize Funding Cut Sparks Fury Levski Sofia: Salaries 75% Of '15 Budget F1 CEO Sued By German Bank For $422M LNR Asks For Bids For Top 14 TV Rights League Notes Hopp To Become Majority Owner Of TSG Parma Owner Confirms Takeover Of Club Match-Fixing Law Doesn't Go Far Enough Allianz Arena Increases Capacity To 75K Munich City Council Approves New Arena
Enter amount in full numerical value, without currency symbol or commas (ex: 3000000).
SBD Global/January 21, 2014/Leagues and Governing Bodies
UCI President Brian Cookson Says Investigation Focuses On Restoring Cycling's Reputation
Published January 21, 2014
WANT MORE GREAT STORIES LIKE THIS?
CLICK ON ONE OF THESE BUTTONS
PICKING UP THE TAP: While Cookson reassured that the panel will have complete autonomy and will have access to all UCI documents, communications and other information, the issue of it being completely funded by the UCI leaves some doubt about its independence. "We are funding them because nobody else will fund it, frankly," Cookson said. It has been reported that the UCI will spend around 3M Swiss francs ($3.3M) on the investigation. This is a considerable amount taking into account that the UCI's average annual expenses are around 6M-8M Swiss francs ($6.6M-$8.8M), according to VeloNews. Cookson: "My management committee has agreed that it is important to allocate a serious amount of money to do it but not an unlimited amount of money." He said that the organization will have to take some money out of its reserves and perhaps not build them as high as it hoped over the next few years. Despite this financial burden on the UCI, Cookson said, "I think it’s absolutely essential that we did it."