Nearly $250,000 raised in first 24 hours of Cannondale-Drapac crowd-funding campaign

A crowd-funding campaign intended to help secure the future of the Cannondale-Drapac team has raised nearly $250,000 (£194,000) in its first 24 hours, more than 10 per cent of its goal.

The #SaveArgyle Indiegogo page is aiming to raise $2m to help fill the team's $7m (£5.4m) budget shortfall after the withdrawal of a major sponsor. Any money raised through the crowd-funding page will be matched by insurance agency Fairly Group.

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In order to attract people to invest, the crowd-funding page offers a number of incentives based on the amount of money that people want to put in.

At the lowest level, $25 (£19) will get you access to insider content and the members' section of the website, as well as #SaveArgyle stickers.

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However if you want to put $50,000 (£38,900) into the project then you will be able to join the team at their pre-season training camp and at four race days of your choosing, and also receive team bike and kit.

The crowd-funding campaign will continue for the next 13 days as Slipstream Sports, the company behind Cannondale-Drapac, continues to look for another sponsor to fill the remaining budget.