Covid-19 crisis forces CCC Team to suspend contracts and reduce salaries
Apr 04 2020 01:32 am CET

Covid-19 crisis forces CCC Team to suspend contracts and reduce salaries
Covid-19 crisis forces CCC Team to suspend contracts and reduce salaries
CCC Team © Mary Cárdenas / CyclingPub.com

CCC Team is another team that has been forced to restructure due to the crisis provoked by the coronavirus pandemic.

The Covid-19 pandemic is causing crisis in diverse sectors of the world and sports are also been hit by it. The latest team to suffer its consequences is CCC Team, which has been forced suspend the majority of the team support staff contracts and heavily reduce the salaries of the rider for the rest of the season.

One day before, it as known that the Polish company CCC is suffering from financial issues derived from the coronavirus pandemic. "The decision to make widespread cuts has been a painful process and one that we did not foresee even a matter of weeks ago," said CCC Team President Jim Ochowicz. "The economic implications of the Covid-19 pandemic have had a drastic effect on business for our title sponsor CCC and like other professional cycling teams, we are now faced with a lack of cash flow due to unforeseen reductions in our sponsorships. This aspect of our business is beyond our control.

"We know there will be no racing until June at the earliest but the situation is constantly evolving and right now, we can only act on a short-term basis. In order to have the budget to race should the season start again, we have had to temporarily suspend all but a handful of staff and heavily reduce rider salaries. As soon as racing can resume, we hope to be in a position to reinstate as many support staff as possible and reevaluate our budget.

"This is a difficult time for everyone, and we will continue to represent our sponsors and fans to the best of our ability while we eagerly wait to get back to what we love doing; bike racing. We will do everything possible to keep the team going during this period and hope to bounce back once the Covid-19 situation improves."
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