Thursday, December 13, 2012

Euskaltel and Fundación reach deal

A deal has finally been struck between Euskaltel Euskadi and the Fundación Ciclista Euskadi over the much-debated team vehicles.

This means that the riders and staff at the foundation will be paid their November wages before the end of the year. It was revealed late last week that the Fundación had been unable to pay their employees due to a budgetary shortfall Madariaga and co. hoped to avoid by selling numerous team busses and vehicles to the "new Euskaltel" led by Igor González de Galdeano. After discussions the last few days, an agreement has now been reached that will see Galdeano's outfit buy "the assets needed for the team".

In a short press release, Euskaltel state that an agreement "has been signed for the transfer of necessary assets for the cycling team Euskaltel Euskadi". The team considers this deal as "another example of our historic commitment to the Fundación Ciclista Euskadi", and further states that "Euskaltel come to the aid of the Fundación" through "this extraordinary contribution".

The Fundación's communiqué is decidedly more low-key, stating simply that "an agreement has just been reached", and that riders and staff will be paid their November salaries before December the 25th.


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