Astana, the top-tier UCI WorldTour cycling team, is to revert to a single ownership and sponsorship model, with co-title sponsor Premier Tech, the Canada-based packaging manufacturing company, pulling out at the end of the 2021 season.
Astana, the Kazakhstan capital, will resume the role of dominant sponsor, as there were unspecified differences in vision over the team's future.
Premier Tech had been the team’s jersey sponsor since 2017, and stepped up to become co-title sponsor this year amid financial challenges at the team.
Yana Steel, managing director of the Astana-Premier Tech team, said: “We were proud to have them with us for some of the team’s most important moments including multiple Tour de France stage wins and momentum victories. Although we envisaged a long-term collaboration between Premier Tech and our Kazakh shareholders as co-owners, unfortunately it has not been possible to align all respective visions for the team’s future.”
Jean Belanger, chief executive and president of Premier Tech, added: “Although it is disappointing for Premier Tech to end its collaboration with Kasakhstan, it has been fantastic to be involved in the project since 2017. We were excited to step up as co-owner and co-title sponsor of Astana- Premier Tech at the start of the season and forge a new direction for the team alongside the Kazakh shareholders.
"Unfortunately, it has become clear in our ongoing discussions and planning for the future that we do not share the same vision and we have been unable to come to an agreement that works for both parties.”
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By GlobalData