IAM Cycling announce end of team after 2016 season
IAM Cycling will not be participating in a fifth season in the professional peloton. After four years of competing as a top professional team, including two years in the World Tour, Michel Thétaz, the founder of the Swiss cycling team, has with deep regret announced to his riders, managers, sports directors, and employees that this beautiful adventure, which began in January 2013, will be ending.
“IAM Cycling will cease operations at the end of the 2016 season,” commented Thétaz, who is also the founder of IAM Funds, in a press release sent this morning to all staff. “This is a failure for which I take full responsibility. In these four years of intense activity, which have been marked by unforgettable memories, IAM has enhanced its credibility and received enviable visibility. We have arrived at a key moment in the team’s evolution with the prospect of entering a new three year cycle; however that proved to be an impossible undertaking for IAM Cycling since we have failed to find a co-sponsor, and consequently will be unable to continue our progress to the summit of the sport’s hierarchy.
It was unthinkable to consider returning to the lower levels, or even to play a subordinate role to the greatest teams with budgets of 12 million. Of course, I regret this situation, but I prefer to rejoice in what we have accomplished over the past four years.”
IAM Cycling, sponsored by Thétaz’s investment management company IAM Funds, began life in 2012 but was formally launched in January of 2013. They initially registered as a Pro Continental team with Thomas Lofkvist getting them off to a strong start by taking overall victory at the Tour Méditerranéen. They would take nine stage or overall victories throughout their debut season.
A total of 28 riders and many more staff are employed by the IAM Cycling team, including Leigh Howard, Mathias Frank, Matteo Pelucchi, Heinrich Haussler and Mathias Brandle