EF Education-TIBCO-SVB will not continue in 2024
The loss of sponsors and the economic demands of the World Tour have led one of the most long-lived structures in women's cycling to throw in the towel. It remains to be seen which team will take the place of the North American team in the top category.
EF Education-TIBCO-SVB dissolution shows the B-side of women's cycling
Created in 2007, EF Education-TIBCO-SVB is the most veteran squad in women's cycling, well, it should be said that it was, since a couple of days ago the team founded by former professional cyclist Linda Jackson announced that it was giving its riders the freedom to look for accommodation for the 2024 season, as it will no longer be in the peloton.
The reasons for this end of cycle are to be found in the sponsorship crisis suffered by the team as a result of the bankruptcy of the Silicon Valley Bank, SVB, which has left the team in a very precarious situation and unable to meet the economic requirements of the World Tour category.
Throughout this season, the other sponsors have managed to keep the team afloat, however, at this point both Cannondale and EF Education intend to integrate the squad into the structure of Jonathan Vaugters and the men's EF Education-EasyPost.
It should be noted that, despite sharing bikes and some of the sponsors, EF Education-TIBCO-SVB was until now a totally independent team managed by Linda Jackson. However, both Cannondale and EF Education have been pushing for some time to integrate both teams, now, with the upper hand on the economic issue Linda Jackson has finally given in, so in 2024 she will put an end to her structure.
This end of cycle puts on the market some of the most sought-after cyclists of the moment, among them, the young British pearl Zoe Bäckstedt or the reigning winner of Paris-Roubaix Alison Jackson.
It is foreseeable that now the investment of Cannondale and EF Education will go to support the new structure under the umbrella of Jonathan Vaugters, getting their way in this aspect, something they had already planned to do before the surrender of Linda Jackson. What is not so clear is that this new squad will be able to get the World Tour license in what will be its first season.