Top tier road racing squad Cervelo Test Team announced that they will fold at the end of the current racing year late last night.  Speculation was beginning to surface concerning the team who had been noticeably absent from the usual team signings that are announced around this time.

The only exception was former Tour de France winner Carlos Sastre who announced his transfer from the squad to new team Geox.  Cervelo’s roster includes Irish Professional Philip Deignan who won a stage of last years Vuelta.  He has had a tough season with injury and illness keeping him out of competition for several months however he will start this weekends Vuelta for the squad.

The squad also includes big names Thor Hushovd and Heinrich Haussler, their destination for 2011 is unknown.  Rumours have been spreading about some kind of involvement for Cervelo (the bike manufacturer) and some of the squads riders with the new proposed Schleck/Luxembourg team but no announcements have been made so far.  This one will be interesting to watch.  Full press release from the team below.

Cervélo looks to new opportunities
26-Aug-2010: Cervélo confirmed today that it would not continue as a cycling team title sponsor after the end of the 2010 season.

Certain subtle changes in the rules that govern pro cycling, have established a trend towards bigger budgets to ensure participation in all the big races, and this is not something with which we are comfortable. We were okay with the significant commitment we originally made to the team, but to increase it is not prudent.

To create the best opportunities for riders, staff, sponsors and other stakeholders, a bigger team environment is needed. At the same time, the very positive response to a focus on “more than just racing” has been great.

We look forward to continued involvement in pro cycling at the highest level with an emphasis on product R&D, as we have since 2003. To that end, we will announce the details soon.