Black Spoke, New Zealand’s first ever UCI Pro team, has an uncertain future after their title sponsor, Bolton Equities, announced its major funding will stop at the end of this season.
In January the team became the first Kiwi outfit to race on the World Tour, making their debut in Melbourne at the Cadel Evans Road Race, claiming more history as they stepped up onto the second tier of the international road cycling tour having finished as the top-ranked team on the Continental Tour last year.
While Bolton Equities isn’t pulling its funding completely, more sponsors will be required if the team is to continue, with hopes they can drop back to the Continental level which involves less financial investment and fewer riders.
Currently the team’s roster is made up predominantly of Kiwi cyclists and includes the likes of World and Commonwealth Champion Aaron Gate.
It’s a major blow with the racing calendar due to end next month and fast approaching deadlines from the UCI for next season.
Kiwi Richlister Murray Bolton of Bolton Equities is understood to have invested millions in the project since it began in 2019.
Black Spoke started out as a cycling academy and way to help young Kiwi riders get to Europe and bigger and better contracts.
Bolton initially looked at buying a World Tour team but that kind of money made even the man who NBR values at $400 million’s eyes water, so along with former pro cyclist Scott Guyton, he started his own.
Thus, Black Spoke was formed with majority Kiwi riders, majority Kiwi support crew and fully Kiwi-funded. This year they’ve moved up to the second tier Pro Tour – it’s a spot that’s been earned by results but a spot that doesn’t come cheap.
Over the past two years, Black Spoke has achieved 49 UCI victories and maintained a consistent position within the top 25 teams in the world.
SHARE ME