Equipe Paule Ca requests bank guarantee to pay player salaries

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Equipe Paule Ca requests bank guarantee to pay player salaries

Ekip Paul Ca is willing to open a bank guarantee for the second time this season, as the new title sponsor Paul Ca appears to be behind on payments to the team.

According to a report in CyclingTips, a person close to the team, who wished to remain anonymous, said that team owner Thomas Campana has indicated that the team is in danger of being dissolved.

Players on the team reportedly received a WhatsApp notification from the team on Monday regarding the start of the bank guarantee.

"We have a bit of a tricky situation because we are behind on payments from our sponsors and Thomas (Campana) needs to open a bank guarantee to pay this month's salary. I am attaching that document here and emailing it to you as well. This is really important if we want to get this month's paycheck paid as soon as possible. Thank you very much.

Cycling News asked Equipe Paule Ka for comment on the team's request for a title sponsor and the second bank guarantee release this year, but he was unable to respond at this time.

"We are unable to answer questions at this time," a team representative said.

However, the team told Cyclingnews that Campana did not suggest that the team folded, and that the WhatsApp message was not originated by Campana.

French apparel brand Paule Ca sponsored the team after its previous sponsors, Bigla and Katusha, cut off financial support amid the spread of the COVID-19 coronavirus.

In April, Bigla notified the team that it wanted to withdraw 100% of its financial support, and Katusha also temporarily struggled to pay sponsorship fees, citing the impact of the COVID-19 pandemic on its business.

The team then set up a crowdfunding campaign, raising 7,999 Swiss francs and accessing a UCI bank guarantee to pay riders' and staff's wages in April.

The bank guarantee is a percentage of the team's overall budget. It serves as a pre-season deposit consisting of 25% of the team's salaries, which can be accessed in the event of financial difficulties.

As a UCI Continental team registered in Switzerland, these funds are held by the Swiss National Federation, which will respond to any seizure requests. in April, the team worked with the UCI and the Swiss Cycling Federation to release the bank guarantee to pay the riders' salaries. The team lifted the bank guarantee to pay the riders' salaries.

In June, the team announced the addition of Paul Ca, who signed a contract that secured the team's funding until 2024. The team was rebranded and began racing on July 1 under the sole title of Equipe Paul Ca. At that time, Campana stated that the team intends to obtain a world team license in 2021.

"[Paule Ka's sponsorship] provides our sport with a platform to showcase the beauty of cycling in a unique and modern way," Campana said in June. 'This partnership opens a new chapter for our team. We will be able to seek World Tour licenses, develop master class projects, and further develop the potential of players who have gone through our development program."

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The team has had success with Paule Cabrand, including a stage win at the Giro Rosa, a win in the Best Young Rider Competition, and podiums at the Strade Bianche and Pului GP.

The addition of Paule Ca was expected to secure the team's long-term future, but the future seems uncertain as the team is currently struggling to pay its riders' salaries.

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