EF Pro Cycling manager Jonathan Vaughters confirmed that the U.S.-registered WorldTour team will continue in 2021 after French newspaper L'Equipe (opens in new tab) suggested the team's future was in jeopardy.

Education First has been hit hard by the COVID-19 pandemic, reportedly canceling many of its language school travel programs, cutting jobs, and moving thousands of students to online programs.

Like many other major teams, Vaughters was forced to make sudden budget cuts, with most riders on the team agreeing to a 44% salary cut for all of 2020.

Other staff lost their jobs, and while the propeloton is looking forward to the race returning later in the season, Vaughters denied on social media that the team would close at the end of the season, as suggested by L'Equipe magazine.

"The pro cycling world is pretty rough right now. Unless you own a toilet paper mill, I think things are pretty tough for a lot of people. We're being forced to make severe cutbacks. And we are looking for new sponsors to help us in the future. But EF is not leaving," Vaughters wrote on Twitter.

In a subsequent message, he also confirmed that Cannondale and Rapha would continue as sponsors.

In response to a Canadian Cyclist website citing one of the European articles about the possible disappearance of the team, Vaughters said: "As we have learned in the last few months, what will happen in three weeks or three days, I have no idea because it changes every day, As of today, EF will continue to be involved with professional cycling and more specifically our organization. They actually own the team and I no longer do. They will own the team in 2021."

The 30-rider roster for the U.S. team includes Tour of Flanders winner Alberto Bettiol, 2018 Tour de France runner-up Rigoberto Urán, Canadian Michael Woods, and American national champion Alex Howes, Tejay Van Garderen, talented young Colombian Dani Martinez, and Belgian classic contender Sepp Vanmarcke.

According to Procyclingstats, only 15 have contracts for 2021. According to L'Equipe, other teams have a similar number of out-of-contract riders, with the NTT Pro team having 24 of its 29 riders out of contract.

In the coming weeks and months, riders and their agents will have to negotiate new contracts under difficult circumstances, very different from those in the sport since COVID-19. Some agents predict that riders' values will be cut in half if several teams disappear and the market is flooded with many well-known and talented riders.