Time is running out for the future of Qhubeka Next Hash, with no news of a title sponsor to save the team as management struggles to keep the World Tour organization going for 2022.

The UCI has extended the deadline for applications until the end of the month to give director Doug Ryder maximum time to find the necessary funding. The South African has his back against the wall, but at least he has the tentative support of Asos.

Assos bailed out the team in 2020, pumping millions of dollars into the team at the last minute to keep it running. The apparel brand was then replaced by the team's secondary sponsor on the eve of the Tour de France, with Next Hash joining as part of a five-year plan.

No announcement has been made as to whether the cryptocurrency company will stay with the team next year, but the team struggled to pay the wages of its riders and staff over the summer, and in the fall CyclingNews learned that several other smaller sponsors had been asked to help the team with its finances, with the final learned that they were required to submit payments.

Most of the team's big-name riders have moved on to new teams, but riders will still be able to fill out the roster if they can find a major sponsor.

Asos is not in a position to save the team as he was in 2020 and has had little communication with the riders in recent weeks, but he wants to keep the team alive. At this point, Assos wants to assess the qualifications of a potential title sponsor before committing to an investment.

"The team is focused on getting a cash partner. A spokesperson for Asos told Cycling News, "Ultimately we need millions of dollars, but we don't know where we stand right now."

"They are desperately trying to put something together, but Assos seems to want to stay involved. We like the program and the partnership and we are partners with Qhubeka anyway. Regardless of whether the team continues or not, we're going to do something with them next year. [because] we want to see what the team is like, who the partners are, what the ambitions of the team are.

"We're patiently waiting and hoping it comes together and becomes something we want to support. Right now it's still hypothetical and we're not going to commit until we know what it is. Right now we don't even have a program yet, and we're not even sure if the team exists.

"It's important to know who our partners are, what they want and what they want to do. We will wait and see and then decide if it is the right program for us. We refrain and see what happens. There is nothing to judge right now."

Asos has not set a clear deadline regarding possible team support, but recognizes that time is running out and if the riders cannot solidify the team's future by the end of the year, it could be too late. There are logistical issues, from clothing to the rider roster, as well as financial commitments related to other marketing campaigns.

"There are a number of other business things going on that could affect our ability to participate in this program," a spokesperson told Cycling News.

"There are other marketing initiatives we are working on that could affect it, but not necessarily. There is no set time. Obviously the more time it takes, the more difficult it will be, but we don't have a set deadline. If we don't get things together by the end of this year, we won't have riders and we won't be able to make wear.

"Realistically there are several issues. They are up against the wall for a variety of reasons, but assos is the least of them. We are long-term partners and want to support the program as long as it is healthy and meets our desires. We are here to help, not to increase deadlines."

Cyclingnews contacted Qhubeka NextHash several times, but the team did not comment.

The UCI told Cyclingnews: "The UCI World Tour licensing is still a work in progress and the UCI will communicate the list of teams selected by the end of December.