News for January 28, 2003

Edited by Jeff Jones

Cannondale file for bankruptcy

The Cannondale Corporation has announced that it will file for bankruptcy on January 28 under Chapter 11 of the U.S. Bankruptcy Code. The bicycle and motorsports company issued a press release stating that "Cannondale and its lenders, The CIT/Business Credit, Inc. and Pegasus Partners II, L.P. have reached an agreement in principle that, subject to Bankruptcy Court approval, will provide the Company with interim financing to fund post-petition operating expenses and to meet supplier and employee commitments."

"The interim financing will be used to continue the operation of our bicycle business," said Cannondale Founder and President Joe Montgomery.

"Cannondale has also reached an agreement in principle with Pegasus Partners II, L.P. to sell substantially all of its assets to Pegasus Partners, subject to better and higher offers and court approval. Pegasus would operate the bicycle business with the involvement of current management and would purchase separately the Company's motorsports assets, including the intellectual property related to the design of Cannondale's motorsports products."

Cannondale stated that due to the interim financing, it will "be able to pay vendors for goods and services received after the filing in the ordinary course of business."

The main reason for the company filing for bankruptcy was due to the losses incurred by its motorsports division. Although the bicycle business was still profitable, the company's huge investment into motorcycles, combined with its lack of success competing against the established Japanese giants was too much.

"Although we believe in the value of our motorsports products, we did not have sufficient financial resources to make the additional investments necessary," said Montgomery. "We look forward to bringing a renewed focus to our core bicycle business and to working through this present challenge with the greatest possible speed."

It's expected that while production workers who were laid off from Cannondale's motorsports factory in Bedford, Pennsylvania in December will not be recalled, production workers at Cannondale's Bedford bicycle factory, were temporarily suspended from work, are scheduled to return to work in the near future.

The company's foreign subsidiaries will not be included in the filing. Business done through Cannondale subsidiaries in Europe, Japan and Australia accounted for approximately 42% of the company's total sales in the 2002 fiscal year.

Nijs wants Daelmans in World's team

After his victory in the sixth round of the Superprestige series in Hoogstraten on Sunday, Belgian champion Sven Nijs was not altogether happy with the already selected Belgian team for the World Championships in Monopoli this weekend.

"You can only curse that the selection was already made after the Belgian Championships," Nijs was quoted in Gazet van Antwerpen on Monday. "On the other side I do not hide the fact that I would rather have Daelmans than Vannoppen at the World's. Arne can be much more useful for the team."

Daelmans finished second on Sunday, just eight seconds behind Nijs. However Tom Vannoppen was over two minutes back in 12th place. Nijs continued: "The parcours has got Arne written all over it and I'm sure that he will not ride for himself. Vannoppen will also sacrifice himself, but only for Mario de Clercq."

For his part, Vannoppen said that he has no doubts about himself, and expects to be in better form by this Sunday. He said that he had been sick at the beginning of last week, and thus wasn't back at his best in Hoogstraten.

Other Belgian World's team members Bart Wellens and Ben Berden were divided in their opinions. Wellens said that he knew from experience how long Tom Vannoppen could be affected by sickness for. "If he rides now, Daelmans is worth Tom's place."

However Ben Berden, who is Vannoppen's Vlaanderen-T Interim teammate, was more optimistic. "There are still a few days for the team to come together."

Despite protests from Vlaanderen-T Interim on Monday, it's very unlikely National coach Rudy de Bie will change his selection. The full Belgian team remains: Sven Nijs, Mario De Clercq, Erwin Vervecken, Tom Vannoppen, Bart Wellens and Ben Berden.

Source: VRT teletekst

Lotto-Domo presentation

The 'new' Belgian team Lotto-Domo held its team presentation on Monday in Brussels. Most of the riders were present, save for those still in Australia after competing in the Jacob's Creek Tour Down Under.

The team is managed by Christophe Sercu, who stated that the Lotto-Domo's aims are to remain in the Top 10 Club, and win a few classics and stages in the grand tours. Last year, Lotto won 42 races, a number that Sercu believed will be difficult to repeat.

One rider hoping for success is Rik Verbrugghe, who is Lotto-Domo's main man for the stage races. A top 10 finisher in the Giro last year, Verbrugghe will shift his ambitions to the Tour de France in 2003, hoping for a good GC ride and perhaps a stage win.

The other rider that the team will be depending heavily on is sprinter Robbie McEwen, who is due to return to Belgium on Wednesday. McEwen won 19 races for the team last year, and is hoping for more success in 2003. However his season has not started ideally after he was forced to pull out of the JCTDU with a knee problem, which may be related to his cartilage operations in 1995 and 1999. McEwen had managed to win a stage of the tour before that happened, but will return to Europe with just one win under his belt rather than five as he did last year.

Antarte-Rota dos Móveis-BPN now secure in division II

By João Cravo

The manager of Antarte-Rota dos Móveis-BPN, José Gonçalves de Sousa, says that he is positive about the situation of his team with regards to the UCI. Speaking to Cyclingnews on Monday, De Sousa asserted that "We are definitely a Division II team. There isn't the slightest shadow of doubt about it."

It had been rumoured that there was a problem with the team's bank guarantee - a sum of money that has to be deposited with the UCI at the beginning of each season to be drawn upon in case of rider non-payment. But De Sousa maintains that this wasn't the case. "There was only a problem with the dates," he explained "The bank guarantee should be valid up until March 31, 2004, and it was only valid until December 31, 2003."

That incident was due to the inexperience of the team, which is entering its first season in the second division, but things are sorted out now. "We're sending the new bank guarantee to the UCI," said a somewhat relieved De Sousa. "And before the deadline given by UCI we'll be officially listed amongst the Division II teams."

With that weight off their collective shoulders, the Antarte-Rota dos Móveis-BPN team members started on Monday their first training camp of the season in Paredes, Portugal. The officials, riders and other staff will remain there until the end of his month. Eleven of the current twelve rider roster (the absent rider being neo-pro and MTB'er Hugo Rocha) will prepare in Paredes for the first true test of 2003 season - the UCI 2.3 stage race Volta ao Algarve (February 19-23). The other members are as follows:

César Quitério
Virgilio Santos
José Sousa
Fernando Sousa
João Silva
Ricardo Felgueiras
Jacek Morajko
Alberto Benito
Fernando Citoula
Ruben Oliveira
Gerardo Fernandez

Antarte-Rota dos Móveis-BPN will certainly not restrict itself to a Portuguese based program this year. "We intend to ride in Spain," claims José de Sousa. "Blanco Villar knows the Spanish market well and is helping it too."

Although De Sousa didn't want to confirm anything, at least four Spanish races (Vuelta a Castilla y Leon, GP Miguel Indurain, Vuelta a la Rioja and Vuelta a Asturias) are on the team's plans.

7UP announces 2003 roster

The lineup for the 7UP Cycling Team has been announced for 2003. This season is the fifth year of 7UP's involvement in professional cycling. Last year was a breakthrough year for the team, which scored victories in the Redlands Classic, US Pro Criterium, and the San Francisco Grand Prix.

The core of the 2002 team will be returning this season, along with some fresh talent. Leading the team again will be seasoned veteran John Lieswyn. John had a great 2002 notching up wins in the Great River Energy Classic in Minneapolis and New Zealand's Southland Tour to finish the season ranked 7th on the National Racing Calendar. Also taking more of a leadership role will be US Pro Criterium Champion Kevin Monahan who ended 2002 on a high note by winning the Mercy Classic in Arkansas.

Track World Cup medallists Greg Henderson and Hayden Godfrey of New Zealand are back for another year with 7 UP. Also returning for his 4th year with 7 UP is Oscar Pineda, who won the final NRC race of the year - the Michelin Classic. Doug Ziewacz and Dan Schmatz also return for 2003.

New blood for 2003 comes via Brice Jones, Jason McCartney, and Chris Pic. Brice is a former U23 National Champion looking to make a name for himself on the US Pro scene after a year at Mercury. His 2nd place at the Pro Tour event in Miami and 28th in the U23 Tour of Flanders are a testament to his potential. After a stage win at the 2002 International, Jason McCartney will lend a hand with the climbing duties in everything from stage races to hilly crits. Finally, Chris Pic spent 2002 in semi-retirement, racing while working a 40 hour-a-week job. For 2003 Chris is back full time and looking to return to the form that saw him grab top 20 finishes at Redlands, Philly, and Downers Grove.

The 7 UP Pro Cycling Team is planning a full NRC schedule for 2003 including the new Tour of Georgia. They will also have a strong focus on the Wachovia Series and defending their titles at Downers Grove and San Francisco.

The team will kick off the season with a two week training camp in central Florida and the NRC season opener, the new Gainesville Grand Prix.

Team roster Hayden Godfrey (NZl)
Greg Henderson (NZl)
Brice Jones (USA)
John Lieswyn (USA)
Jason McCartney (USA)
Kevin Monahan (USA)
Chris Pic (USA)
Oscar Pineda (Gua)
Dan Schmatz (USA)
Doug Ziewacz (USA)

Manager: Scott McAfee
Director: Jeff Corbett
Soigneur: Stephanie Roussos
Mechanic: Chad Grochowina

Sponsors

Frames: Cannondale
Forks: Time
Wheels: Mavic
Tires: Maxxis
Bars/Stems: Ritchey
Posts: Ritchey
Cranks: Ritchey
Pedals/Shoes: Time
Saddles - Serfas
Chains: SRAM
Cassettes: SRAM
Brakes: Mavic
Aerobars: Ritchey
Clothing: Cannondale
Helmets: Bell
Eyewear: Smith
Drinks/Gels: Cytosport
Energy Bars: Honey Stinger
Casual Clothing - Dogfish

Women's Challenge is no more

One of the world's biggest stage races for women, the Women's Challenge in Idaho, has been cancelled. The race, which started in 1984 when it was sponsored by Ore-Ida foods, has undergone several changes in its 19 year history. After Ore-Ida stopped its sponsorship in 1993, PowerBar and then Hewlett-Packard took over, but 2002 was the last year of the HP sponsorship.

Since then, the organisers have been unable to come up with a replacement sponsor, after a much hoped for deal with ConAgra Foods fell through in earlier this January. The organisers have informed the UCI, and the Women's Challenge will join the increasing number of women's stage races that have been cancelled or are in trouble this year. The proposed Vuelta femenina and Tour de Snowy were both cancelled, while La Grande Boucle feminine was also reported to be having problems finding enough money.

Source: Idaho Statesman

Muñoz on a high for Langkawi

Defending champion Hernan Dario Muñoz of Colombia has sounded an early warning to his rivals and is expected to be in top condition for the Tour de Langkawi following his victory in the Vuelta a Tachira in Venezuela. The 30 year old climber from Antiquo in Colombia again showed his mettle in the mountain stages of Tachira, winning the yellow jersey ahead of home favourite Carlos Maya by 1'15.

Muñoz will be the man to watch when he leads the seven-man Colombia Selle Italia team for the TMLTdL which starts on Friday, January 31 in Langkawi. Apart from Muñoz, Selle Italia will also be bolstered by the presence of last year's King of Mountains Ruber Aliveiro Marin, who was also in his element after finishing fourth overall in the general classification in Tachira.

The other members of the team are Fredy Gonzalez, Australian Russell van Hout (who rode well in the JCTDU), Uberlino Mesa, Mykayhlo Khalilov and Jose Rujano.

Meanwhile, Australian star Stuart O'Grady, the newly crowned Australian champion, is also expected to be in top condition following his exploits in the recent Australian Championship and the JCTDU which ended last Sunday. O'Grady was always in the thick of action finished third overall in the general classification.

Other riders who are expected to shine in the sprints are Graeme Brown (Panaria), who took the final stage in the JCTDU, and Italian Moreno Di Biase who won two stages in Langkawi last year. Brown's teammate Paolo Lanfranchi is tipped as a hot favourite for the overall in Malaysia, after finishing 5th overall on GC in the JCTDU.

Team Index will not go to Langkawi

The Italian division II team Index will not participate in the Tour de Langkawi, that takes place between January 31 and February 9. The team will not be registered in Division II with the UCI until the January 31 deadline, and thus has been forced to pull out of the TDL.

Knaven a father again

Servais Knaven (Quick Step Davitamon) has become a father for the second time, after his wife Natascha gave birth to a baby girl on Sunday evening in the Sint Jozef hospital in Turnhout, Belgium. The girl weighing 3.85 kg and measuring 51 centimetres was named Senne, and she already has her own website: www.senneknaven.nl. Her godfather is Telekom's Andreas Klier.

(All rights reserved/Copyright Knapp Communications Pty Limited 2002)