Felt GmbH have ended their sponsorship of the Felt International Mountain Bike Team, which is owned and operated by AB ProCycling and managed by Dr Antonio Brozzu.
In a statement, Felt cited "recent financial problems between AB ProCycling and the team" which "left riders only partially paid and the program in operational distress".
Michael Muellmann, CEO of Felt, said: "We regret this early cancellation, but under the circumstances it was unavoidable. Once it was clear that AB ProCycling had stopped contributing to the team, every attempt was made between Felt and other industry sponsors to salvage the program and make up the difference. However, despite our best efforts we simply could not make it happen. We wish all of the team members the very best for the future."
The Felt team most recently included the following riders: Joel Graf, Blaza Klemencic, Kashi Leuchs, Emil Lindgren, Connor McConvey, Daniele Mensi and Juri Ragnoli.