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Jacques Hanegraaf, manager of Team Bianchi, has told German news agency dpa that his Bianchi-sponsored team does not have any financial problems, the search is for a co-sponsor not a rescue package. PLUS: Bianchi officials have yet to confirm or deny the details in the BikeBiz.com report that a Lombardy union claims Bianchi will be moving bike production away from Italy

Team Bianchi doesn’t want to go it alone

According to Sportcal.com, Team Bianchi has denied reports that it is in financial difficulties but admitted that it searching for co-sponsors for the 2004 season.

Team Bianchi, sponsored by the Italian market-dominating bike manufacturer, was created in May this year from the ashes of Team Coast, which was suspended from competition by the UCI after failing to pay riders’ salaries.

Jacques Hanegraaf, manager of Team Bianchi, told German news agency dpa: "We don’t have any problems, otherwise we would never have got the [UCI] licence, for 2003 everything is correct."

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