Franchise Notes: Cycling Team Euskaltel-Euskadi In Need Of $546K 'Miracle'
Spanish cycling team Euskaltel-Euskadi is "on the verge of disappearing and the team's riders have been instructed to look for new teams." Title sponsor Euskadi Foundation President Miguel Madariaga said, "Only a miracle would prevent the team from disappearing. The possibility of the team moving forward is minimal. All the contacts we have maintained until now with other companies have been fruitless." Madariaga said that the team needs to raise at least €400,000 ($546,000). Madariaga: "Or, we need to add 1,200 members." The team currently has 1,600 (AS, 10/3). ... UCI Pro Continental team Sojasun "will fold at the end of the season after failing to secure a title sponsor moving forward" (VELO NEWS, 10/1). ... Former Scottish League 1 Rangers Chair Malcolm Murray claimed that Ibrox CEO Craig Mather’s assertion that he decided the controversial levels of executive salaries at the club were "misleading and vexatious." Mather said, "It was a decision taken by the remunerations committee and the chairman at the time, which was Malcolm Murray. So Malcolm Murray decided the remunerations for Charles Green and [Finance Dir] Brian Stockbridge and, unfortunately, the directors are duty bound to honor those scenarios historically" (SCOTSMAN, 10/3).