Aqua Blue forced into bank guarantee after September wages not paid
Riders and staff at Aqua Blue Sport will have to rely on the team's UCI bank guarantee in order to receive their wages for the final four months of the 2018 season. The team failed to pay their dozen-plus riders and staff last month and have informed them that they must now complete forms before they can be paid both wages and expenses.
Under UCI rules, teams must pay a bank guarantee before the start of each season in order to have their licence validated by the governing body. The amount of the guarantee must equal 25 per cent of the team's payroll.
On Monday morning, Aqua Blue riders and staff were notified by email that they must complete forms and send them back immediately in order to process the payments relating to their outstanding wages from September.
The email, from Aqua Blue's CEO Tom Timmerman, states:
"As communicated earlier, payment of salaries and expenses will be managed through the UCI drawing on the ABS bank guarantee. Although we have been working and communicating with the UCI since end August, and provided them with all the data to make the necessary payments, only this weekend we have received there [sic] final reply on the process to follow. As a result, you will now need to fill attached form, send it back to me for validation and I will pass on all validated forms to the UCI, who in their turn will execute payment.
"Please, in order to get swift payments, please send the filled forms back as soon as possible. Thanks for your understanding, and apologies for the delay, but it has been completely out of our hands. Best regards."
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