BOULDER, Colo. (BRAIN) —The organizations behind the Cannondale Pro Cycling team and the team currently called Garmin-Sharp will be merged for next season. Dorel's Cannondale brand will become title sponsor and bike supplier to the team operated by Colorado-based Slipstream Sports, which owns and operates the Garmin-Sharp team. Cannondale also will take an ownership stake in Slipstream.
Garmin will remain "a significant sponsor" of the team, a joint statement said. The team's roster will be released later this year.
"Cannondale is excited to team up with Slipstream to create the next evolution of Cannondale Pro Cycling with the most progressive and innovative team in the peloton," said Peter Woods, president and CEO of Dorel Recreational/Leisure. "Professional athletes play a key role in testing our products in some of the most extreme conditions worldwide helping us to create the perfect ride for our consumers. We are thrilled about progressing our product development approach while bringing exciting racing to our fans around the world."
Jonathan Vaughters, the CEO of Slipstream Sports, said, "Slipstream Sports and Cannondale share key philosophies of a focus on innovation, developing the next generation of champions and a commitment to ethical sport.
"We are happy to work with another company, that, like Garmin, so closely shares our goals. We will be adding some great talent to an already outstanding roster and we believe the team will build on past successes and will produce very exciting racing in 2015. We look forward to what we can achieve together, both on and off the road."
Cannondale has been involved with pro racing since 1997 when it became the technical sponsor of Saeco and the first U.S. manufacturer to sponsor a European Pro Tour team. In 2010, Cannondale became a co-sponsor of the Liquigas-Cannondale Team and became title sponsor and owner in 2013 with the creation of Cannondale Pro Cycling.
Slipstream Sports was founded in 2004 and started out as U.S. developmental squad. An early title sponsor was the Chipotle restaurant chain; Garmin came on board in 2008 and in 2010 the squad combined forces with the former Cervelo TestTeam and was renamed Garmin-Cervelo as Cervelo took over from Felt as its bike sponsor. The Sharp Corporation became a co-title sponsor last year.
Cervelo was not expected to continue as a team sponsor for 2015. Cervelo announced in June that it would sponsor the Africa-based MTN-Qhubeka team next season.