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by Shane Stokes
August 31, 2017
In today’s edition of the CyclingTips Daily News Digest: Lopez wins stage 11 of the Vuelta a España; Wild sprints to stage 2 win in Boels Ladies Tour; Chaves and Roche suffer on stage 11; Cannondale-Drapac team launches crowdfunding campaign, Fairly Group will contribute up to $2 million; BMC Racing Team extends contracts of Caruso, Drucker, Rosskopf and Ventoso; Cofidis signs Jesús and José Herrada; Thomas, Kwiatkowski and Viviani amongst Team Sky squad for Tour of Britain; Video: Chris Froome post-race interview, Stage 11 Vuelta a España; Video: Esteban Chaves post-race interview, Stage 11 Vuelta a España
Days after it emerged that the Cannondale-Drapac team could be facing extinction at the end of the season after an anticipated sponsorship deal collapsed, it has launched a crowdfunding campaign on Indiegogo. The fundraising effort has already attracted a sizeable commitment from existing sponsor Fairly Group, with the company making a seven-figure commitment.
The Fairly Group is a risk consulting firm with links to pro cycling, with its portfolio also seeing it act as agents for various riders. Its president is Alex Fairly, a keen cyclist, while his son Caleb, a former pro, is involved with the company plus the related FG Sports Consulting.
According to Cannondale-Drapac team owners Slipstream Sports, Fairly Group has made a minimum seven-figure pledge to the team, and will increase that up to $2 million based on matching offers being made by fans and businesses.
“I’m overwhelmed by the response and level of support at the grassroots level,” said Slipstream Sports CEO Jonathan Vaughters. “There are hundreds of thousands of fans across America and the world who want to see Slipstream continue to create a platform for America’s best riders to compete, and they have inspired us and Fairly Group. I’m grateful to Fairly Group for taking the lead, not only with a financial commitment but also by offering to deliver assistance with a strategic plan to ensure our future.”
Alex Fairly said the team is an important one for the sport. “American pro cycling has a rich history of competitive excellence and Slipstream has carried the torch for many years, having developed many of America’s best cycling talents and taken them to the Tour de France. Our ethos is built on our willingness to step into our client’s most difficult challenges, and our goal in making this commitment is to provide a spark that continues to ignite the flame of support for America’s best pro cyclists competing on cycling’s WorldTour stage.”
After several hours the campaign had raised $132,155 USD from 1012 backers. For more details and to contribute, click here.