Less than 12 months ago, cycling apparel brand Le Col joined forces with fitness technology company Wahoo to co-sponsor the UCI Continental team. Rather than celebrate its anniversary as Le Col-Wahoo, the team was looking for a new sponsor to follow in 2023.

VeloNews reports that one of the team partners pulled out earlier this week, leaving team manager and co-founder Tom Varney to try to fill a budget shortfall estimated at 400,000 euros, which, according to Cyclingnews, failed to raise funds for the upcoming year, current partner, but that it was a potential new partner.

The team recently finalized its roster of 12 riders for 2023, and Tom Varney reportedly said he "made the riders and staff aware that they should find another deal" for next season.The team was launched with Bob Varney in 2015 and is the UCI women's team It was a tough blow for Varney, who grew the program into Britain's premier team and was invited as a wildcard to the Tour de France Femme.

Last winter, when the Drops team was reborn as Le Cor Wahoo, Le Cor reportedly tripled its existing investment in the team and offered aerodynamics expertise to improve elite performance. For Wahoo, which wanted to showcase its commitment to women's cycling, this was its first entry as a top sponsor of a professional cycling team.

Le Col informed the team at the end of the summer that it would not continue its joint title sponsorship with Wahoo, but would provide apparel and sponsorship funds and help find a new partner.

There was speculation earlier this year that the team would apply for a UCI Women's World Tour license in the near future; in January, the Drops Le Col program changed its name and introduced a new look. Tom Varney said that backing Le Col and Wahoo was "essential for the team and its riders to join the World Tour in 2023."

There will be 15 teams on next year's Women's World Team, one slot for the current Continental teams to jump up to the highest level. Three applications were submitted, but Drops Le Col was not one of them. the UCI will confirm its decision on the team in December. The UCI will confirm the decision of the Licensing Committee regarding the teams in December.

"If we can transfer the higher-paid riders, we have a better chance of continuity," Tom Varney told Velonews. 'We're working on some other things to fill this gap, but as things develop in the next few hours and days, it will become clearer what we can do next year.' We are in an unfair situation, especially at this stage."

The British-based team made the most of its wildcard invitation to the Tour de France femme in July. French rider Gladys Verhulst scored a solo attack on the first day of racing to take the most combative prize, while sprinter Myke van der Duyn wore the best young rider jersey the same day.