Leading British racing team Madison Genesis have announced they will cease racing at the end of the season. Announced in an open letter to the fans, the British Continental team's primary sponsor confirmed it would not continue next season. After seven years on the racing scene, Madison will look to invest its money in other areas of the business.
Founder of the team and CEO of primary sponsor Madison, Dominic Langen, spoke of his frustration with the domestic racing scene and why he considered now the best time to close the team.
'We created a UK road cycle team brand loved by so many people, with a highly desirable image,' said Langan.
'We have worked incredibly hard to create a team ethos of good sportsmanship with a high level of fan base engagement which delivered some fantastic results and over the last seven years, we helped some talented riders achieve their full potential.
'However, the market is constantly evolving and whilst I would be lying if I said we didn’t have frustrations with certain aspects of the UK race scene, I feel, more importantly, that now is the right time to bring the team to an end so we can invest in other market segments which are now showing much more significant growth potential.'
The Madison Genesis outfit has been one of the most dominant domestic teams since its creation in 2012. The team offered a home to some of the country's most talented domestic professionals including the likes of Ian Bibby, Tom Stewart and Erik Rowsell.
The consistently strong roster helped secure victory in the 2015 Tour Series while the crowning moment came at last year's British National Championships when Connor Swift took the title.
The team's creation in 2012 was helped by former pro rider and WorldTour sports director Roger Hammond, who came on board from the beginning.
Currently working for the team, he will guide them through to their end and spoke of his gratitude for working with the domestic side.
'When the team was built, we set out to achieve certain goals and it is with great pride that I can say we achieved those goals and continued to do so each year,' Hammond said.
'It has given me great pleasure to see riders developing with our team, with some of them going to ride the biggest races in the world. I’d like to take this opportunity to thank everyone who has been involved with or supported the team. It has been a pleasure to have you along for the ride.'
The shutting of Madison Genesis is not good news for the domestic racing scene. This is the third Continental team registered in the UK to end in 12 months after the closing of JLT-Condor and One Pro Cycling in 2018.