Citing "tough market conditions," cellphone company MTN announced it was withdrawing its sponsorship of the "minnow" Qhubeka cycling team that "stunned with top performances at this year's Tour de France," according to David Isaacson of TIMES LIVE. MTN Group Corporate Affairs Exec Chris Maroleng said that MTN had spent about 100M rand ($8M) sponsoring the professional cycling outfit since '13. He said, "Considering ... the tough operating environment in the telecommunications industry we've really had to reassess, not just the Qhubeka sponsorship, but a number of other engagements we feel don't have a return on that investment at the levels of comfort to us." MTN-Qhubeka Team Principal Doug Ryder "seemed surprised by the announcement but said the future of the team was secure." Ryder: "The team has many options going forward, huge interest as you can imagine, so the future of the team is incredible. There are no issues there." Maroleng said that MTN had "communicated its decision to end the sponsorship after the tour ended on Sunday." Maroleng: "We had indicated to them we are reconsidering our levels of engagement" (TIMES LIVE, 7/29). The AP wrote despite praise for the team's “outstanding performance,” said its partnership had “reached its conclusion.” MTN’s Group Corporate Affairs Exec Chris Maroleng said the team “put on a fantastic display of power and athleticism at the Tour de France and we are very proud of their achievements. Our partnership with the team has come full circle and we wish the team the absolute best in the future as we pass on the baton to the next sponsor” (AP, 7/29).
