Bianchi assumes full control of Coast and keeps Div 1 status

from Velo News:

It looks like Jan Ullrich will at least have a team after a new sponsor stepped forward Friday to take over the cash-strapped Team Coast. Whether he starts the Tour de France now depends on race organizers.

According to an agreement taken Friday by the Council of Professional Cycling, Bianchi will take over the sponsorship from Team Coast, which was suspended last week by the UCI for not paying riders’ salaries in April, L’Equipe reported. Sport director Rudy Pevenage is reportedly working on a deal to hire the entire Team Coast staff, from the racers on down.

The professional body awarded the Italian bike manufacturer a racing license and a place in cycling’s Division 1 ranks, but it couldn’t cede the automatic bid for the Tour de France. Race officials are scheduled to announce the final four wild-card teams Monday and could add the new Bianchi team as a fifth team to take Team Coast’s place.

On Thursday, UCI president Hein Verbruggen said riders who haven’t been paid by the team were free to sign with other teams. The UCI banned Team Coast last week for the second time of the 2003 season, and Team Coast owner Günther Dahms was struggling to find money to keep the team afloat just weeks before the start of the Tour.

Former Team Coast rider Manuel Beltran signed for the remainder of the 2003 season with the U.S. Postal Service, the team announced Thursday.

Hopefully they will keep the same team colors - word has it that Bianchi was just about to release the “Team Coast” edition bikes in the States.

From cyclingnews:

"A new venture to be run by former Dutch pro Jacques Hanegraaf and directeur sportif Rudy Pevenage joins Bianchi in establishing the new team, which will continue to employ the services of Jan Ullrich. In fact, the PCC stipulated that its support for the new venture was contingent upon a concerted effort to provide contracts to all Coast riders and team staff. "

I hate saying “I told you so.” No wait, I don’t hate saying it…