After a few months of rumors about financial uncertainty at Qhubeka-NextHash, the team’s riders have been told that they can start looking for different squads for the coming season, Cyclingnews reports.
Qhubeka-NextHash management has reportedly confirmed that it is still working to sort things out for the future, and that riders have been made aware of the situation.
“Team Qhubeka NextHash is fully committed to securing our future and continues to work extremely hard to do so, with both our current as well as potential future partners,” the team said, according to Cyclingnews. “As required by the UCI and the CPA, we have informed the team of our current position which sees them now able to seek opportunities elsewhere should they wish to pursue those.”
The report comes three months after the squad then known as Qhubeka-Assos announced ahead of the Tour de France that it had signed a deal with a new partner, NextHash – a parent company for various entities use blockchain technology – which would step into replace Assos as co-title sponsor. Assos, which had stepped in at the end of 2020 in an effort that helped keep the team afloat, remained on as an important sponsorship partner and the team’s kit supplier.
At the time, CyclingTips reported on some of the financial irregularities behind Nexthash and the questions raised by the company’s arrival as a new sponsor. Two months later, it emerged that riders and staff were experiencing a delay in receiving their salaries for the month of August. According to Cyclingnews, Assos has said that it has “fulfilled our commitments to the program and much more and hope that the team can continue to 2022 and beyond.”