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Bicycle Racing News and Opinion,
Friday, December 6, 2019

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2019 Tour de France | 2019 Giro d'Italia

Elegance is achieved when all that is superfluous has been discarded and the human being discovers simplicity and concentration: the simpler and more sober the posture, the more beautiful it will be. - Paulo Coelho

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Team Total Direct Energie will not ride the Giro

Here's the team's news release:

To put an end to all speculation around the 2020 calendar, we officially announce our non-participation in the Giro d'Italia  this year.

Thanks to the work accomplished and the efforts made, our team finished at the top of the Continental Pro rankings at the end of the 2019 season.

This coveted first place is not inconsequential! In 2020, the Team will have access to all the events of the UCI World Tour calendar and arbitrations will be essential.

Direct Energie

Direct Energie (shown at the start of the 2019 Milano-San Remo) will not ride the Giro in 2020. Sirotti photo

With a squad of 24 riders, Team Total Direct Energie cannot compete in all the major races of the season. It is therefore imperative to make choices to best establish the schedule according to the objectives defined.

The team is therefore forced to not honor the invitation for the Giro this year: "After discussion with the sports management, we decided not to go. While we were delighted to see our first place in the Continental Pro rankings last October, our recruitment was almost complete. We did not have enough time to adjust the workforce," confides Jean-René Bernaudeau.

The Team Manager adds that participation in the Giro this season would have been too much: "We would put ourselves in danger sportingly if we went there. The squad is not big enough to be able to be successful in Milan-San Remo, the Flanders races, the Giro and the Tour de France.

Wiggle posts heavy loss despite impressive sales

Bike Europe sent me this report:

CORK, Ireland - Mapil Topco, owner of internet only giant WiggleCRC, has posted a pre-tax loss of GBP 132.5 million (€ 157m) for the trading period of the 52 weeks to December 30th 2018. The suffered loss is despite the fact that sales at the group rose 15 percent to GBP 453 million (€ 537m) with underlying profits of GBP 14.2 million (€ 16.8m).

However, heavy write-downs on the value of assets (GBP 106 million, € 125.6m) and interest payments to venture capitalists Bridgepoint Capital (GBP 29 million, € 34.4m) look to have largely been responsible for the pre-tax loss.

The Directors’ Report is keen to paint this as a one off occurrence, stating “The directors believe that the most appropriate measure of the company’s profitability is EBITDA and this, along with revenue, is a key performance indicator in business.”

You can read the entire story here.

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