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Not My Circus

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Re: The CULT ... of Stölting!
« Reply #60 on: December 09, 2015, 15:34 »
First press reports....

Feltet

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CULT announced today at a press conference that they stop their sponsorship of the CULT Energy Stölting Group with immediate effect.
CULT Energy Pro Cycling

Denmark's cycling team, Cult Energy Pro Cycling, which has merged with Team Stölting to become CULT Energy Stölting Group, lose their main sponsor for three years, has CULT just announced at a press conference.
 
Energy company has experienced a large breach of contract from Stölting Groups page, when the German company did not deliver the payments that they have undertaken since September, and CULT has terminated cooperation with Stölting of today. It announced CULT-owner Brian Sørensen Germans just three hours ago.
 
"We are saddened by what happened today. We members have struggled for it, but we will not put my name to Stölting when they can not keep appointments," says Brian Sorensen Feltet.dk
 
"Confidence Unfortunately away. CULT can not have a close cooperation with a company whose morality is not consistent with our values. As a consequence, we have per. Today decided to terminate our sponsorship," it said. Brian Sørensen while guaranteeing the riders get paid the rest of 2015, but the Danish company will not sponsor any of the 2016th
 
Stölting should have taken payments from the former owner company Lion Cycling, but it has not done, and therefore CULT purchase all the stock from Lion Cycling, guaranteed pay and stop our cooperation with Stölting. Brian Sørensen does not rule out that at some point they will return. Where that leaves the team, he does not know as it is only three hours ago, they announced Stölting that they would leave things around.
 
"I'm keeping my fingers crossed that it will have no impact on the Danish cycling. Michael Skelde contracted at. 1st January with Stölting so that it still applies. I do not think there is anything that prevents the team continues on Danish license . I do not know if they will or can turn it into German license, "he concludes.

Read more at http://feltet.dk/nyheder/cult_stopper_sponsorat/#S6ZSfHOKzFwxXkJC.99

Cult have purchased the assets form Lion Cycling, will guarantee wages to end of 2015... but all future co-operation on the three year deal (2016 - 2018) cease now.  Stolting looking for a new partner, will try and continue 2016... but the story moves fast.
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