The Cyclist Professional Association (CPA) did not pay the full allocation from the Transition Fund to riders who retired after the 2019 season. The fund was established to help newly retired riders cope with the financial burdens of post-cycling life.

"The first obvious reason relates to the increase in riders seeking end-of-career funds while prize money has not increased," the CPA said.

"Prize money has not increased for at least 20 years, but cycling has been transformed in recent years by more riders and teams.

Successful applications for the fund would have paid €12,500 to riders who retired after the 2019 season, but former riders have so far received only €3,000, and the CPA's riders' union blames this situation on the COVID-19 epidemic.The CPA has confirmed to Cycling News that 69 athletes had applied to the fund as of the end of 2019.

However, the pandemic and its financial impact on 2020 should theoretically have zero or little impact on athletes who retire at the end of the 2019 season.

Thus, the problems with payments highlight the precarious financial management of the Fund, its structure, and the alarming future facing many athletes likely to retire at the end of 2020. the CPA has not improperly used funds from prize money, but the issues related to the funds and withdrawal methods issues and the increasing demands of riders, the current model has proven ineffective

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The CPA has managed the Career and Transition Fund since 2012, when it took over from the UCI, and it is funded by deducting 5 percent from the winnings of races the CPA determines to be "international elite races" during the season. to fund its own operations. to fund its own operations, it collects an additional 2 percent from all prize money.

According to the CPA website: "The money thus accumulated is paid out to cyclists at the end of their careers as compensation, primarily intended to support their professional retraining.

To apply for the fund, athletes must send proof that they have been racing professionally for at least five years with either the WorldTour or Pro Continental. They must also submit proof of employment with their previous team. Athletes with anti-doping violations within the past five years are ineligible to compete.

One of the biggest problems facing the fund is that not all race organizers are required to pay 5% of prize money to the CPA.

The CPA claims that while more and more riders are trying to take advantage of the fund, the inability of all race organizers to pay the required 5% has resulted in a deficit of over €2.8 million in recent years. according to the CPA, some organizers are paying the full prize money directly to riders and teams directly, but the CPA laments tax withholdings and complete non-payment from some race organizers.

According to CPA documents, the ideal number of retirements is around 48 per season, but the situation worsened in 2019 with claims from about 60 riders. This pushed the CPA further into the red.

"In the last few years, about 60 riders per year have applied, and if the fund is supposed to be €12,500, we need a reserve of €720,000," one 2018 retiree told Cycling News.

"But if the total prize money is roughly €12 million and 5 percent of that goes to the fund, then there is only €600,000, leaving the fund short €120,000 annually. "

The situation looks bleak for riders who will be retiring this year. This is because the CPA will struggle to recoup funds for a season hit by race cancellations.

"With so many races cancelled, only about 60% of this year's funds will be transferred. They will not get the 720,000 euros," the source added.

On June 4, riders expecting payment received an e-mail from the CPA telling them that their first payment of 3,000 euros would be sent. However, the letter explained that "due to the unforeseen circumstances of the global COVID-19 pandemic and the cancellation of the race, as well as numerous requests, we have decided to adopt this decision in accordance with the principle of solidarity governing the Fund. All of these factors compel us to return to normalcy and wait for the situation to improve in order to be able to respond to all requests in the best way possible.

"With this decision, the CPA intends to consider all parameters relevant to the exceptional circumstances we are experiencing, especially riders who may apply for funding in the near future and riders like you who have contributed to the funding of the Fund for many years. We will also consider riders who have contributed to the Fund over the years, such as yourselves. As the future we are living in is uncertain, the CPA must demonstrate fairness to all riders and adapt its payment team appropriately.

The letter adds that more details and updates will be provided in the coming months, but Cycling News has spoken to several riders who have applied to the fund and have not received any further information.

Asked for comment and asked if riders from 2019 would receive more money from the fund, the CPA told Cycling News: "We have not received any further information. There will then be two more payments. The process has been extended with a view to extending the recovery period."

The CPA could not answer the amount that riders retiring in 2020 will receive until the exact number of retirees at the end of the year is known, but new regulations are being considered to ensure that future and current retirees are paid fairly and appropriately from the fund He added that new regulations are being considered to ensure that future and current retirees are paid fairly and appropriately from the fund.

"There are many other ideas besides new regulations that could be considered, such as asking for an increase in total prize money, asking for some contribution to the UCI, organizing events and sponsorships and increasing the percentage paid to the Fund, and considering payments proportional to the number of years of professional careers.

Cyclingnews also spoke with an athlete who wished to remain anonymous and retire in 2019 after a long career spanning more than a decade. He was one of the riders who only received €3,000 this year, despite having collected 5% of the prize fund throughout his career.

"I don't want to sound like an old man, but I think I owe €9,000. There was no pandemic last year, so it doesn't make sense to use the pandemic as a reason. Some of us have been riders for a long time and it looks like we are not budgeting correctly, but we need to be consistent," he said.

"Money has been disappearing from the prize money percentages for the last few years.

The problem for riders retiring in 2019 is that there was no retirement fund for them because the CPA was structured to use funds raised in 2020 to pay retirees in 2019.

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