Schroeder Iron team owner Frank Schroeder issued the following statement
at 16:07 PDT, Sunday September 21:
No 2004 for Schroeder Iron
"After careful consideration, I have decided to end my association
with pro cycling with the close of this 2003 season. The stresses to
my business and to my family have been too great this year and it would
not be wise for me to stay involved for 2004 and beyond," says team
owner Frank Schroeder.
The speculation that the Schroeder Iron team would not continue has
been the subject of many rumors as of late. The program, which was started
in 2001 in Southern California [and] was formed with the idea of improving
the sponsorship and organization of cycling for the cyclist and equipment
sponsor will come to end this month. The team was quite successful this
year despite major setbacks including the retirement of then USPRO champion
Chan McRae and Miguel Meza's unexpected Mexican Vacation where Miguel
was held up in Mexico with [a] visa problem during the most important
part of the season. With the sluggish economy, it has become more of
an effort to keep the team going than originally planned.
"I have had the distinct pleasure of dealing with some of the best
sponsors in the business and I wish them well in their endeavors for
the coming years" continues Frank Schroeder, " We spent time looking
for a major title sponsor to take over the turn key team to no avail
and there is no way I could possibly float the team for another year.
Both emotionally and monetarily."
"My main goal is to make sure all the riders receive their due for
the season and to carefully liquidate the team assets so that I might
be able to get back to a somewhat normal life and to continue to oversee
the success of Schroeder Iron Corporation and my family".
