Fears that the Cult Energy Pro Cycling team could fold at the end of the season have been averted as the Danish outfit finally secured a new co-sponsor for the 2016 season.
Cult announced in July that the team would end its racing season on September 13 due to financial constraints, but with new sponsor Stölting Group on board the future of the team seems secure.
The sponsorship sees Cult Energy Pro join forces with German continental squad Team Stölting, which will bring with it some of the best young riders in Germany.
“We are happy, proud and incredibly relieved," said Cult owner Brian Sorensen. "The signing of this sponsor agreement is the happy ending of a long, hard struggle and naturally it is great news to deliver to the riders.
"Cycling is up and rising in Germany and there is potential for a solid partnership with exciting prospects for both us and the riders."
It has been a turbulent season for the Danish team, entering the year having fired their manager after just two months in November with an on-going search for a sponsor somewhat overshadowing performances.
To add insult to injury, the team were forced to abandon the Tour Haut Var in February after having their entire stock of bikes stolen from the race.
"Today is a really important day for both of the partners," said Stölting's Christian Große Kreul. "CULT and Stölting had partnership negotiations from the very beginning and since then, the relationship grew better and better.
"For Stölting, it was the logical step to rise to Pro Continental level, but we didn't want to do it without a trusting and powerful partner."
Thank you for reading 20 articles this month* Join now for unlimited access
Enjoy your first month for just £1 / $1 / €1
*Read 5 free articles per month without a subscription
Join now for unlimited access
Try first month for just £1 / $1 / €1