The Dave Rayner Fund has received a “fantastic boost” as the organisation has been given charitable status.
Established in 1995, the fund has helped young riders, including Adam Yates (Mitchelton-Scott), with financial support that allows them to race in Europe in pursuit of a professional cycling career.
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Other riders who have benefitted through the organisation’s work include Tao Geoghegan Hart (Team Ineos), Hannah Barnes (Canyon-SRAM) and EF Education Sports director Tom Southam.
The Dave Rayner Fund has now been granted charitable status by the Charity Commission and will change its name to The Rayner Foundation.
Founding member of the fund and the team manager for the British under-23 squad, Keith Lambert, said: “Being awarded charitable status has been a brilliant achievement and will ensure we can further enable riders to progress in the sport of competitive cycling, whether that is on the bike or off it.
“The assistance we are able to provide is financial, but it also takes the form of advice, mentoring and mental support to inspire, empower and support the next generation of athletes so they can achieve to the best of their ability.
“We hope this fantastic boost for the fund will help us to encourage more women and riders from under-represented groups to engage in the sport.”
Dave Rayner was a professional cyclist in the late 1980s and early 1990s, who went on to race for the Dutch Buckler team, and was one of the only Brits to flourish outside the UK.
In 1994, Rayner was the victim of an assault during a night out with his friends and new wife Serena, who he had married five weeks earlier, in Bradford and he died in hospital four days later.
The fund was set up in his memory in 1995 and has raised more than £1million through its annual dinner and other activities.
As a charity, the foundation will receive greater public recognition plus financial benefits including Gift Aid, tax exemptions and access to funding for charities.
The Dave Rayner Annual Dinner will take place at the Royal Armouries in Leeds on Saturday, November 23, where Adam Yates (Mitchelton-Scott) will be the guest of honour.