Cycling giants HTC-Highroad have announced their trailblazing days in the professional peloton are over after owner Bob Stapleton failed to land a new title sponsor.

Stapleton, whose squad includes ace riders like Britain’s Mark Cavendish and Australian Matt Goss, had been battling through the summer to secure a multiple-year deal from a naming sponsor prepared to invest at least €10 million annually.

He had been in advanced negotiations with a new title sponsor up till Sunday night, when the deal collapsed at the 11th hour.

Further negotiations ensued with HTC, who Stapleton said were not prepared to invest as much as they have done in the team.

Stapleton’s last option was to merge with another team in a similarly precarious financial position, only for that option to be ruled out as well.

Under Stapleton’s leadership Highroad have been regarded as one of the most ethically-sound, and successful cycling teams in the unforgiving ranks of the professional peloton.