NTT Pro Cycling has revealed that the team is looking for a new sponsor after Japanese telecommunications company NTT announced that it would not renew its contract with the team.

Rumors about the future of the team's sponsorship deal have been circulating for some time, but on Monday evening, NTT announced that it was ending its six-year partnership with the team's predecessor, Dimension Data.

"After a six-year partnership with NTT Pro Cycling (formerly Team Dimension Data), NTT will end its title sponsorship of the cycling team at the end of the 2020 season," a statement from the company read. 5] important role in NTT's partnerships, but will invest in broader partnerships that go beyond sports and focus on the impact technology can have to support the UN Sustainable Development Goals over the next decade."

"We will continue to support the development of new technologies that will help to improve the quality of life for people and the environment, and will continue to support the development of new technologies that will help to improve the quality of life for the people.

During the Tour de France, it was reported that the team's future was threatened as its contract with NTT expires at the end of 2020, with no replacement or extension in sight.

In April, the team reportedly sought to extend its sponsorship deal with NTT, and Danish window brand Velux could become the title sponsor after Danish Bjarne Riis joined the team as general manager in early 2020 It was rumored that the company could be a possible title sponsor.

Riis said during the Tour de France that he is "confident" in finding a new title sponsor, adding that he has "been there before" and "I hope to have some news soon."

Riis and his business partner, Lars Seel Christensen, had been in negotiations to buy part of the team upon Riis's appointment as director, but as of mid-June no deal had yet been reached.

According to information from Cycling News, all players on the men's WorldTour team and the Pro Continental team were asked to make a dial call at approximately 6:00 pm Central European Time. During that call, it was announced by Doug Ryder that NTT would be leaving the team at the end of the year.

According to Cycling News, Ryder had until recently assured many officials that a new sponsor would be announced within days or weeks, but that dream appears to be over.

It is no secret that NTT has been silent on the transfer market in recent weeks. They were unable to sign new players for 2021 for the simple reason that they had not finalized a sponsor for this year and beyond. Daryl Impey was at one point considered a target for the team, but when NTT did not submit a contract, his move to the Israeli Startup Nation became more obvious.

Several riders on the team, including European champion Giacomo Nizzolo, wanted to stay, but with no contract extension offered, it was clear that the team was out of options and time.

Last week, Cyclingnews spoke to one of the team's directors, who said that news about the team's future had dried up and that everyone was uncertain about the future. At the same time, Cyclingnews sent several questions to the team's press officer, including whether there was a Plan B if NTT pulled out, which were answered by Doug Ryder. Cyclingnews received a "no comment" response to all questions to the team.

This news leaves management with only a slim hope of keeping the team together. Rider still has a World Tour license for the next two years, but the idea of inviting Bjarne Riis to help find sponsors has so far failed.

A source told Cycling News that Rider refused to throw in the towel on a conference call with the riders and is still holding out hope for a miracle, but at the same time the team boss has told the riders and staff to look for work for the upcoming season.

In the call, Ryder told Ryder and his staff that NTT made the decision over the weekend and that the reason they did not extend the contract was because they could not find a second sponsor that, in Ryder's words, was 'important to NTT and its business. Ryder stated that this was a complete U-turn and not what they had said in the past. Ryder added that the news is devastating, but that they will fight every day to keep the team alive.

Ryder also added that there are still some positive clues and that he will accept calls and ideas from any of the riders.

He added that a merger with a second division team is also being considered. Bjarne Riis was also present for the call and said that this is a tough moment for the entire team.

Former European time trial champion Victor Kampenaerts, one of the team's star riders, said that a new sponsor would be ideal, but that he would find a place somewhere as he would be in the show window at the next Giro d'Italia He added.

"It would be nice to have a new sponsor, but it's already 12:05. I think it's very difficult to get new sponsors," he told Sporza.

"Of course, I want to remain a professional cyclist, so I am waiting for a new team. A new sponsor would be ideal, but I can't wait forever.

"Changing teams is not easy, the CCC is having problems and many teams have already been formed. There won't be many options

"I think there is a place for me somewhere. For me, it's not what I planned and I would have preferred it to be different, but there is nothing I can do about it. If I do well in the Giro, maybe I can get a new sponsor or a good contract with a new team."

As of Monday evening, no riders have agreed to move from NTT, including Campenaerts.

The team has existed in its current form since it was founded in 2008 as the MTN Energade Road Team. Since then, the team has risen through the ranks from continental level to a World Tour team.

The team has won seven stages in the Tour de France, three stages in the Vuelta a España, one stage in the Giro d'Italia, and the Milan-San Remo in 2013.