Cervélo has just confirmed that it will not continue as a cycling team title sponsor after the end of the 2010 season. This means that the Cervelo TestTeam will fold at the end of the 2010 season.

Cervelo issued the following statement to the press, implicitly criticizing rules made by the UCI:

"Certain subtle changes in the rules that govern pro cycling, have established a trend towards bigger budgets to ensure participation in all the big races, and this is not something with which we are comfortable. We were okay with the significant commitment we originally made to the team, but to increase it is not prudent.

To create the best opportunities for riders, staff, sponsors and other stakeholders, a bigger team environment is needed. At the same time, the very positive response to a focus on "more than just racing" has been great.

We look forward to continued involvement in pro cycling at the highest level with an emphasis on product R&D, as we have since 2003."