Charles Pelky at VN has the inevitable story. ASO is entirely to blame: their war of choice with the Swedish squad completely ruined a planned €32 million investment in Cycling, and all because they didn't like the number of teams the Pro Tour was forcing on them... a number that now looks like it would have shrunk anyway. I'll forego the usual rant I unleash on ASO; the simple fact is that they only have one sliver of Cycling in its interest, and are uniformly unfit to make policy as a result. This is yet one more reason the sport needs a centralized, neutral commissioner to make decisions in the best interest of the entire sport.
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