It's getting more interesting. Press release by the Ridley CEO:
“Ridley feels compelled to respond to ongoing press leaks from new Management at Lotto-Dstny. A current agreement is unilaterally terminated and 12 years of intensive and positive cooperation are consigned to the wastepaper basket.”
“In 2021, we were asked by the then Management to break open the current agreement, something that we as a company went along with to please the team and the riders. 2 years later, when we are fully investing in optimizing the material for the team, we get a cold shower.”
“At the end of May, several shots were fired in the press in which the CEO of the team claimed that Ridley's bikes would not be Pro Tour worthy. There would be doubts, especially about the new time trial bike, the new Dean.”
“It is remarkable when you see how many races Arnaud De Lie wins on our new “Falcn” and when you read that Alec Segaert states on September 16, 2022, following the signing of a professional contract, that the new Ridley time trial bike has certainly played a role in his decision!"
“A good and attentive reader understands that there is more to it. Just before the termination of the current agreement with Ridley, Lotto-Dstny announces the break-up and renewal of the agreement with Arnaud De Lie. This obviously required a budget, more budget than anticipated. And that is where the shoe is pinched.”
“The new Chairman of the Board of Directors (Karel Van Eetvelt), for whom I have a lot of respect as well as for his predecessor Jannie Haek, made it clear to me that further cooperation would be possible if we made an extra financial effort (read extra sponsorship would give). The health of our company has always been sacred to me and a guiding principle in my policy. What was asked could jeopardize our future, something I did not want.”
“In the search for extra budget, it was therefore decided to unilaterally break the current agreement and to work with a new partner who is not even active in the World Tour!”
“It should be clear that it was not the technological aspect that was important in the choice, but the financial contribution of the new partner. I deeply regret that for financial reasons a long-standing and successful collaboration is being unilaterally terminated. On the part of the Lotto-Dstny Management, people forget what investments we made again this year so that the riders could also compete at the highest level next year on more than competitive material! This disloyalty and reputational damage and the lost investments will have to be compensated. It is a pity that I also have to end with a financial aspect, but as I said, the future of my company and its employees are sacred to me.”
"Ridley therefore looks forward to the proposals that the Management and or the Board of Directors of Lotto-Dstny will come up with to repair the damage suffered."
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My take:
The CEO ofcourse defends his products and claims it's only about the money and not the bikes.
There were rumours Arnaud De Lie gave an OK for Orbea, but whether De Lie found Orbea better or simply just as good, I don't know. I also heard rumours about the slow delivery of the TT bike. It's clear Orbea has good enough bikes and is sponsoring more and that's the main take-away. At the one hand I find it a bad outcome to lose a WT team as a bike manufacturer who wants to sell high-end bikes, but at the other hand it's ofcourse a risky trade-off and more sponsoring needs to be paid by selling more bikes. It must be that Orbea has a bigger market / more money to play this game, or simply because Ridley was so spoiled by the current deal that they weren't mentally ready to invest more (the current sponsor deal with Ridley was made by Lelangue, and for the team it's not exactly the best deal).
What I find a bit silly is the CEO mentioning Orbea as a new partner 'who is not even active in the World Tour', as to suggest that's a sign of inferiority.