The Cannondale-Drapac World Tour cycling team announced a boost in its "fight for financial survival" after a public campaign to raise money for the "cash-strapped outfit," according to Martyn Herman of REUTERS. A statement on Wednesday from Slipstream Sports, the holding company behind the U.S. team, said that consulting firm Fairly Group pledged $2M in "match-funding" after cycling fans reacted to the team's "plight" with a crowd-funding scheme. A page on Slipstream Sports' website invites individuals and businesses to contribute a minimum of $25 in return for "rewards" such as team merchandise and rides with the team. Slipstream Sports CEO Jonathan Vaughters said, "I'm overwhelmed by the response and level of support at the grassroots level." The Fairly funding, based on matching offers by other fans and businesses, would "help fill some" of the $7M "shortfall in the team's finances" after a sponsorship deal for '18 "fell through." Fairly Group President Alex Fairly said, "Our ethos is built on our willingness to step into our client's most difficult challenges, and our goal in making this commitment is to provide a spark that continues to ignite the flame of support for America's best pro cyclists" (REUTERS, 8/30).
