Phonak to fold?
It seems Phonak owner Andy Rihs is ready to throw in the towel: he has no sponsor for his team for...
It seems Phonak owner Andy Rihs is ready to throw in the towel: he has no sponsor for his team for the coming year, and the dream is over, done in by too many doping cases, and capped off by Floyd Landis testing positive after his Tour de France victory.
iShares, a division of Barclay Bank, was scheduled to take over as the main sponsor. USA Cycling President Jim Ochowicz, who works for Barclays as an investment consultant and is also a paid consultant to Rihs' ARcycling AG, was tipped to manage the team, but according to Blick magazine, the company has backed out of the deal.
After iShares withdrew, Rihs worked feverishly to find a new sponsor in order to save the jobs of the riders and other employees of the ARcycling AG, but without success. Rihs has scheduled a press conference next Tuesday morning to make a formal announcement on Phonak's future.
Cyclingnews' coverage of the Floyd Landis case
September 28, 2008 - Landis takes case to US federal court
September 10, 2008 - Landis signing with current Health Net-Maxxis team for 2009
July 1, 2008 - CAS delivers final blow to Landis legal challenge
June 30, 2008 - Landis loses final appeal
June 28, 2008 - Landis decision due Monday
March 12, 2008 - Landis' judgment day nears
October 21, 2007 - Landis files appeal with CAS
October 18, 2007 - AFLD takes another look at Landis case
Thursday, October 11 - Landis continues fight, appeals to CAS
Saturday, September 22 - UCI officially names Pereiro 2006 Tour champion, Landis case raises issues
Friday, September 21 - Landis' appeal denied, two year suspension levied
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