October 12, 2012 (St. Catharines, ON) – Cycle Sport Management Inc. (CSMI) today announced that Team SpiderTech Powered by C10, Canada’s only professional continental cycling team, is postponing racing activities for the 2013 season and will use the upcoming year to focus on acquiring additional corporate sponsorship.

The team has been competing at the Union Cycliste Internationale (UCI) Pro Continental level since 2011. Entry into the UCI WorldTour, will elevate the team’s status and provide access to compete in the premier cycling races around the globe, including the Tour de France.

“We’re stepping away from continental competition in order to focus our efforts on gaining UCI WorldTour status,” said Steve Bauer, owner of Cycle Sport Management Inc.  “We have made the decision to focus our efforts entirely on making the jump to the WorldTour in 2014 and have determined that we need to acquire additional financial partnerships to reach this goal.”

CSMI has recently made headway with several potential Canadian corporate sponsors, however more time is required to secure partnerships and solidify future financial commitments.

CSMI will continue its operation with SpiderTech Inc. as a partner to develop the internal organization.