UCI women's cycling team Bigla-Katusha has announced that its future is in jeopardy after being informed that both title sponsors have withdrawn their financial support amid the COVID-19 pandemic crisis.

"The future of the professional women's cycling team Bigla Katusha is in doubt: the Swiss team, which has been in the top 10 of the UCI world rankings since 2015, has recently been contacted by both title partners questioning the viability of the team," the statement said.

"The team manager received a letter from the main title partner, Bigla, indicating that the company wishes to withdraw 100% of its payments to the team. The team's other title partner, Katusha, has already refused to pay the team for the past month.

"The team hopes that both title partners will engage in further discussions with the team to negotiate the best way forward and ensure the team's survival.

Bigla has been in partnership with the women's professional team since its inception in 2005 and has supported the team as both sole and co-title sponsor during that time. The team has stood on the podium many times and has been named in the top 10 of the UCI world rankings.

"It is very disappointing, not only for the team, but also for our partners, supporters, and cycling fans in general, that such a recognized and successful team with 200 podium finishes since 2015 is in such a difficult situation," said a team statement.

The COVID-19 coronavirus caused a global sporting closure, and while it will continue to affect professional cycling, it was a particularly hard blow to women's teams, with 14 of the sport's top-tier 22 women's World Tour events cancelled or postponed ...

Ronnie Lauke, president of the new women's team association UNIO, of which Bigla Katusha is a founding member, expressed concern that some women's teams may not survive because of the pandemic's impact on sponsors and business.

Last October, Katusha Sports announced that it would be co-title sponsor of the Bigla team in 2020, not only as official clothing partner but also as a financial backer; according to Cyclingnews, it funded roughly a third of the team's annual budget this year Cyclingnews reports that they have funded approximately one-third of the team's annual budget this year.

In addition, the men's Katusha Alpecin World Tour team has been taken over by the Israel Cycling Academy, newly named Israel Startup Nation. However, Katusha Sports remained as the team's clothing partner until 2020, but did not provide financial support to the team.

According to Cyclingnews, Katusha Sports has been hit particularly hard by the COVID-19 epidemic and has not produced any products for the past two months because its factory has been closed; in addition to the e-commerce center being closed, the company has not been profitable; and the company has not been able to sell its products to the public, stock sales are also down, which has affected its ability to fulfill its financial sponsorship agreement with the women's cycling team.

"Due to unforeseen circumstances caused by the global coronavirus pandemic, Katusha Sport has suffered greatly in recent months, causing internal financial distress for this young company," a press statement from Katusha Sport said.

"All of Katusha's manufacturing is done within Europe and unfortunately due to COVID-19 most of the factories have been closed, along with the shipping and e-commerce centers based in France.

"Due to the current financial situation, many of the company's commitments need to be reviewed and financial sponsorship with professional teams is unfortunately at risk in the coming months."

Katusha Sport stated that the financial setback is temporary and that they hope to be able to continue their financial support in the future. They also indicated that they intend to continue to support the women's team as long as possible.

"We know that this situation is putting special stress on our women's team: bigla katusha. However, no matter what path we are forced to take, we will continue our dedication to these riders and this team as long as we are able," said a company statement.

"While we all know that 2020 will be a challenging season for cycling, we are actively seeking potential new sponsors and partners for the future and will do our best to support the riders on the team in every way possible."