Manuela Fundacion, the Spanish NGO that failed to acquire Mitchelton Scott, is currently in negotiations with the CCC team.

According to Cycling News, Manuela Fundacion has approached a number of teams in recent weeks, including NTT Pro Cycling, Astana, and Deceuninck-Quick Step, and CCC team manager Jim Ochowicz, the men's World Tour team is said to be talking to several potential investors in an attempt to save the company.

Ochowicz admitted in June that his Continuum Sports Management company is looking for a new title sponsor after the CCC decided to end its support at the end of 2020. He indicated that several potential sponsors have expressed interest and that he hopes to have something in place by the start of the Tour de France on August 29.

However, team leaders like Greg Van Avermaat are in limbo, and the Belgian is rumored to be moving to AG2R La Mondiale or to Israeli startup Nation, which has already secured a contract for Chris Froome for 2021. Ten players, including Van Avermaat and Matteo Tolentin, are reportedly under contract with the CCC team through 2021 and may have to remain with the team if the sale to Manuela Fundacion is completed.

Manuela Fundación now appears to be the leading candidate to save the CCC team, and Ochovich has not denied that he is negotiating with a little-known Spanish charity.

"Negotiations are ongoing with various potential sponsors. As we have learned in the past, commenting on potential sponsorships could be detrimental to the process.

According to Italy's La Gazzetta dello Sport and other media outlets, representatives of Manuela Fundacion have offered €10 million to take over the naming rights of the team and manage its World Tour license.

Former Mitchelton Scott financial advisor Alvaro Crespi is underwater on a deal after being dismissed by Mitchelton Scott team owner Jerry Ryan, along with longtime team manager Shayne Bannan. He is reportedly working on a deal.

Manuela Fundacion is scheduled to be launched in Spain on October 4, and a professional team is seen as the best way to promote its charitable work. Former Giro d'Italia winner and Spain resident Stefano Garzelli is advising the Granada-based charity on the best way to enter a professional cycling team.

The largely unknown Manuela Fundación, run by Granada businessman Francisco Huertas and his wife Maria Angustias González, was the sponsor of Mitchelton Scott when the deal was announced in mid-June. It was a surprising name to take over.

The organization was to take over title sponsorship for the remainder of the 2020 season and guarantee the team's future beyond 2021, but a conflict over the sponsorship and buyout agreement led Ryan to cancel the deal less than a week later.