Jim Ochowicz confirmed that his Continuum Sports Management company is looking for a new title sponsor after CCC decided to end its relationship with the men's World Tour team at the end of 2020.

The Polish firm signed an initial three-year deal at the beginning of 2019, but after the COVID-19 pandemic caused shoe sales to plummet, CCC decided to scale back costs and end its contract with Ochowicz a year earlier than planned. This announcement did not apply to the women's CCC-Liv team, which is a separate organization and has a separate contractual agreement with CCC.

Players and staff on the men's team have already faced pay cuts in recent months, with non-essential staff being laid off.

In a statement released Monday morning, Ochowicz acknowledged that cycling is facing unprecedented times, but was optimistic that he could find a replacement sponsor.

Ochowicz has a track record of finding sponsors, having been influential in starting the 7-Eleven team before turning to Motorola in the 1980s. He ran the BMC Racing team for almost a decade, but cut a deal with CCC at the last minute in the summer of 2018 after BMC decided to opt out of the sport.

"Looking ahead to the 2021 season, we are now actively seeking a new title sponsor as CCC is no longer our title sponsor," Ochowicz said in a statement.

"We are in unprecedented times, but we are confident that there are companies that want to invest in cycling, especially given the growing popularity of cycling worldwide in recent months." Under Continuum Sports' ownership and license, we have grown from a US Continental team in 2007 to one of the largest WorldTour teams in the peloton in recent years.

If Ochowicz can find a main sponsor, Giant could continue as bike supplier and co-sponsor of the team.

However, the current economic climate for attracting sponsors is unlike anything Ochovich has ever encountered. In recent months, almost every commercial sector has been hit by the economic downturn, and several other World Tour teams are also in jeopardy due to the financial burden placed on their owners.

Ochowicz has had considerable time to find a replacement in 2018 when BMC announced its withdrawal, but the American team boss is hopeful that his return to racing in August will give his team a chance to showcase their qualities.

The World Tour race will officially return in early August with three Grand Tours, a Monument, and several other high-profile races packed into a 71-day window.

"Our top priority is to get back to the starting line and achieve the season goals we set in December," Ochowicz said. [It's a Monument win, a World Tour One Day win, a World Tour Stage Race win, and stage wins in the three Grand Tours. Every race day is an opportunity for the riders, and it is clear that strong performances in the early races are critical to securing the team's long-term future."

It is unclear how the CCC team will divide its roster when racing resumes, but it is possible that Greg Van Avermaet will lead the Classics, with the former Paris-Roubaix winner also competing in the Tour de France, followed by the remaining one-day races late in the new organization's campaign. A possible scenario would be to compete in the remaining one-day races later in the new regime's campaign.

Ilnur Zakarin will challenge for GC in the Grand Tours, while the rest of the team will aim for stage wins and one-day success. The logistical challenges of the coming months are enormous, but Ochowicz is determined to stay active not only for the remainder of 2020, but for the future. [With two months to go until the Vuelta a Burgos, the first race of his return, "we are busy preparing the race calendar and selecting riders for the busy race block from the end of July through November," Ochowicz said. [With the Belgian service course reopening in mid-June and most European travel restrictions being eased next month, several athletes will begin high altitude training around Europe. At this stage, the race program will last almost 140 days, with two to three races throughout the four-month period. In the coming weeks we will announce the final plans for the race calendar and the goals of the main riders."