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by Shane Stokes
September 9, 2017
De Gendt wins stage 19 of the Vuelta a España; Ewan wins stage 6 of the Tour of Britain; In a big shake-up, Anouska Koster takes final stage win and overall in Lotto Belgium Tour; Contador: The podium is really far away; Armstrong’s trial delayed until 2018; Bike Channel UK confirms closure after failing to find a buyer; Race to the Rock: Hammond leads but Carlsson on the charge; Video: Stage 17 & 18 backstage pass, Vuelta a España; Video: Cycling Motivation – Greatness; Video: Warren Barguil – Emotions; Video: My Red Hook Crit Barcelona 2017 Disaster
Following rumours that it would stop, British broadcaster Bike Channel is indeed to cease trading. It was launched in December 2015 as a sister channel to an Italian equivalent and became the UK’s first 24/7 TV station dedicated to the sport. It was broadcast on Sky, Virgin Media and Freesat, and also sponsored the Bike Channel Canyon team.
Administrators acting for parent company Bike Media Limited issued a statement on Friday confirming it has run out of options to continue. Six staff will lose their jobs and a buyer is sought for the company’s assets.
“Bike Media has created a loyal following across a range of specialist cycling communities, but despite the growth in viewers to Bike Channel across broadcast networks, the business had faced pressure on working capital,” stated administrators FRP Advisory. “Attempts to obtain new investment via a sale of the business did not materialize and, with unsustainable pressure on cash-flow, the directors were left with no viable option other than to seek the protection of administration.”
“Upon their appointment on 8 September 2017, the joint administrators’ priority has been to assist staff with their timely claims to the Redundancy Payments Service. The joint administrators will seek to realise value from the assets in the interests of creditors.”
Bike Channel-Canyon’s team manager Tim Elverson has told Cycling Weekly that the UCI Continental team will continue in 2018, despite the loss of the sponsor.
Click through to read more at Cycling Weekly.