Cannondale-Drapac/Slipstream crowd funding

[Elefantino]

Vaughters says he's $7 million short of being able to run the team next year. Assuming one of the Waltons doesn't chip in some pocket change, the team has opted to gauge interest in crowd funding.

I'm in and urge any and all who have enjoyed this team over the years to raise your hands, if you are able to help.

https://slipstreamsports.typeform.com/to/TveqQM

[45K10]

So what happens if JV doesn't get enough money to keep the team going? Do people get their money back?

Personally, I wouldn't let JV hold my coffee much less give him any money but I would hate to see another pro team fold. The simple the fact is other than Uran's performance at the TDF this year the team has been a joke for awhile now.

[peanutgallery]

Why would I want to support a dude that dresses like an English fop?

If he got a rebate of some sort from dopers he just had to pay a salary - like CVV, TD and DZ he could probably cover a season. I would say his schtick got old, ran its course and now he has to find a new scam

No thanks

[oldpotatoe]

Why would I want to support a dude that dresses like an English fop?

If he got a rebate of some sort from dopers he just had to pay a salary - like CVV, TD and DZ he could probably cover a season. I would say his schtick got old, ran its course and now he has to find a new scam

No thanks

Yup, I would hope he takes little to no salary to help his 'team' survive..he's noted for not only big $ wardrobe but also things like big $ wines and such.

http://pelotonmagazine.com/racing/at-home-with-jonathan-vaughters-part-1/

[GregL]

If a business needs to resort to crowd funding (or an IPO...) just to survive, it does not have a viable business plan. Any money donated to this venture will have a lower ROI than time spent at a casino. Sadly, pro cycling is more a rich person's hobby than a business. Other than a select few entities (e.g., ASO), no one makes money.

Greg

[oldpotatoe]

If a business needs to resort to crowd funding (or an IPO...) just to survive, it does not have a viable business plan. Any money donated to this venture will have a lower ROI than time spent at a casino. Sadly, pro cycling is more a rich person's hobby than a business. Other than a select few entities (e.g., ASO), no one makes money.

Greg

Maybe Tinkoff will buy it?

[colbyh]

They have more American riders than any other team, they show up to every race this side of the pond, and they are really starting to be fun to watch again. Hope it doesn't have to come down to crowdfunding but if it does I'm happy to chip in personally.

[dgauthier]

So what happens if JV doesn't get enough money to keep the team going? Do people get their money back? (...)

My apologies to the original poster, but I wouldn't participate in crowdfunding. Crowdfunding campaigns can and do go belly up, and when that happens all donations are lost.

Here are a few high profile examples:
http://www.mercurynews.com/2017/08/26/crowdfunding-disaster-silicon-valley-startup-takes-customers-money-shuts-down

https://techcrunch.com/2016/08/06/skully-officially-admits-its-over

https://www.digitaltrends.com/cars/skully-indiegogo-abuse-allegations/#ixzz4GxIfTvk3

[colbyh]

My apologies to the original poster, but I wouldn't participate in crowdfunding. Crowdfunding campaigns can and do go belly up, and when that happens all donations are lost.

This is completely dependent on the funding platform and the terms of the deal. Most set a goal and return all donations should the goal not be hit, but not all.

[Black Dog]

Pro cycling is a business. Giving them money is simply corporate welfare. Give your hard earned money to a charity that really makes the world a better place or buy a bike for a kid who needs one.

[dgauthier]

This is completely dependent on the funding platform and the terms of the deal. Most set a goal and return all donations should the goal not be hit, but not all.

I hear ya, but that requires a *lot* of trust. Which platform has a spotless record of refunding all donations for failed projects?

Kickstarter, Indiegogo -- a quick Google search shows no end of pain:

http://www.popularmechanics.com/technology/gadgets/a25741/popslate-crowdfunding-fail-no-refunds

https://techcrunch.com/2015/10/14/a-1-5m-kickstarter-project-fails-leaving-most-backers-without-their-3d-printer/

[Vientomas]

From a purely selfish and extremely narrow perspective...I depise the POC helmets and glasses...If the team does survive - I hope they do away with that sponsor.

Resume regular high brow and socially sensitive programming...

[peanutgallery]

All he's missing in that interview is a Sherlock Holmes hat and a pipe

Yup, I would hope he takes little to no salary to help his 'team' survive..he's noted for not only big $ wardrobe but also things like big $ wines and such.

http://pelotonmagazine.com/racing/at-home-with-jonathan-vaughters-part-1/

[adub]

Pro cycling is a dying business.

[dougefresh]

Pro cycling is a business. Giving them money is simply corporate welfare. Give your hard earned money to a charity that really makes the world a better place or buy a bike for a kid who needs one.

this

[MattTuck]

$7 million is both a huge amount of money and very very little money, depending on who you are.

I'd love to see the financial statements of a team. I suspect a creative and enterprising manager could find some new revenue streams. Not sure if you can generate $7 million, but sometimes crisis is what it takes to find new ways of doing things.

[Macadamia]

Reminds me of the accusations of riders cheating for the money. There's tens of dollars at stake!

[pdmtong]

Love the team but this just looks like an out-stretched hand.

We are not wealthy but philanthropy is part of our family economics. I'll give my cash to local charities that help needs in the community before sending anything to JV...

[oldguy00]

Yup, I would hope he takes little to no salary to help his 'team' survive..he's noted for not only big $ wardrobe but also things like big $ wines and such.

http://pelotonmagazine.com/racing/at-home-with-jonathan-vaughters-part-1/

That was the first thing that entered my mind as well, remembering pics/interviews of him living a very wealthy lifestyle, now looking for everyone else to support it. No thanks. Give your money to your kids, take spouse out for dinner, etc etc., anything is better than giving Vaughters a handout.

[Pelican]

Pro cycling is a dying business.

Cycling is a dying business.

[m4rk540]

https://www.youtube.com/watch?v=dKfJYsAzgbY#t=127.66266

https://www.youtube.com/watch?v=xQnn7w2s3gc

[54ny77]

This.

Love the team but this just looks like an out-stretched hand.

We are not wealthy but philanthropy is part of our family economics. I'll give my cash to local charities that help needs in the community before sending anything to JV...

[Elefantino]

Love the team but this just looks like an out-stretched hand.

We are not wealthy but philanthropy is part of our family economics. I'll give my cash to local charities that help needs in the community before sending anything to JV...
And that's cool. I don't think it's ment to be anything other than am outstretched hand. It may be, probably not but maybe, a new model for pro cycling.

I used to own shares of the Celtics back when they were publicly owned. I just wanted to. Same in this case. No harm in it.

[BobO]

Cycling is a dying business.

Then it should die. Though there is clearly a real demand so it's likely that someone will find a way to fill it in a manner that is sustainable.

[pdmtong]

I suppose this makes sense...stir up the people, use them to demonstrate the love, entice a white knight to ride in, refund the money


“The crowdfunding campaign has gone way over any of our wildest dreams,” he said. “I expected maybe 50 grand or something. This blew the doors off.”
Read more at http://www.velonews.com/2017/08/news/slipstream-opens-team-crowdfunding-2-million-match_446998#1lgQO6dFiVjS0YtW.99

The crowdfunding effort is part of a multi-pronged approach taken by the team to close its funding gap. Team management views the campaign as serving dual purposes. It will bring in cash, and it could also prove to another potential sponsor that the team has a dedicated fan base.

“More so than the actual money, what that says is people are invested in this team,” Vaughters told VeloNews. “The fans are invested not only emotionally, but they’re invested and willing to see this team go on.

“I never thought that we would see that level of funding come in. It’s flattering. But of course, my true hope is that a corporate sponsor looks and says, ‘Hey, wow, there’s a lot of love for these guys. Maybe we need to jump on this.’ Because people are speaking with their wallets, which is really nice.”

Read more at http://www.velonews.com/2017/08/news/slipstream-opens-team-crowdfunding-2-million-match_446998#1lgQO6dFiVjS0YtW.99

[happycampyer]

And that's cool. I don't think it's ment to be anything other than am outstretched hand. It may be, probably not but maybe, a new model for pro cycling.

I used to own shares of the Celtics back when they were publicly owned. I just wanted to. Same in this case. No harm in it.Except when you bought shares of the Celtics, you owned a piece of the Celtics. Here, you're essentially making a gift. I don't even want to give them the benefit of clicking on the link--are they offering anything in return for the contributions? E.g., $5K gets you a used, unwashed argyle sock, etc.

[BobO]

Except when you bought shares of the Celtics, you owned a piece of the Celtics. Here, you're essentially making a gift. I don't even want to give them the benefit of clicking on the link--are they offering anything in return for the contributions? E.g., $5K gets you a used, unwashed argyle sock, etc.

That's a good point, if a donation made me eligible to bid on race ridden bikes I would be interested. Hell, wheelsets. :)

[KJMUNC]

That's a good point, if a donation made me eligible to bid on race ridden bikes I would be interested. Hell, wheelsets. :)

I looked cause I was curious on the same question, not because I'd ever give them/him a penny. So yeah, if you donate $20k you get a used team bike, invite to training camp, etc. Donate $50? You get a mug.

Any donation is just that....these aren't shares or fractional ownership. They could've gone that route, but then he's accountable to his investors. Why do that when he can potentially raise the money just in a straight hand-out basis from people willing to cough up their hard earned cash to support some aspect of the team, even if they have zero clue how that money is used....:mad:

[pncguy]

... or buy a bike for a kid who needs one.

This might do more for the sport of cycling than any money going toward a pro team.

You could look at https://wishforwheels.org/, which is in Denver, or search for something local.

[KJMUNC]

Oh and btw I just saw that NFL/Houston player JJ Watt has already raised $7M for flood victims. Now THAT is a worthy cause of donating a few bucks.

[Elefantino]

Except when you bought shares of the Celtics, you owned a piece of the Celtics. Here, you're essentially making a gift. I don't even want to give them the benefit of clicking on the link--are they offering anything in return for the contributions? E.g., $5K gets you a used, unwashed argyle sock, etc.



Yes, they are offering things in return for various price points.

But that's not why I'd do it.

[oldpotatoe]

Vaughters says he's $7 million short of being able to run the team next year. Assuming one of the Waltons doesn't chip in some pocket change, the team has opted to gauge interest in crowd funding.

I'm in and urge any and all who have enjoyed this team over the years to raise your hands, if you are able to help.

https://slipstreamsports.typeform.com/to/TveqQM

This puts the riders in a huge bind..better riders hang around and 'hope' the team survives or start looking now for another team..choose a less desirable team position...then find out CDale survives..or hang in there with C-Dale..look for no other team and watch it fold along with the rider's career..sux..

[rwsaunders]

I don't know, but every time that I read about JV or hear him speak, for some reason I feel like there's a shell game being played. Same goes for Brailsford.

[teleguy57]

A while back during a Green Bay Packers stock offering we bought a share for each of our kids. Community owned, no special perks or hope of an "investment" return, but fun to do.

Not interested in funding JV, though. Totally different business model, culture, history etc.

[velofinds]

J-Ker to the rescue! New team name: Cannondale-Heinz? :banana:

http://thehill.com/blogs/in-the-know/in-the-know/348724-kerry-races-to-save-american-cycling-team

On his Hors-Cat:

https://si.wsj.net/public/resources/images/BN-IR282_kerry0_GR_20150531142905.jpg

[MattTuck]

Whatever your feelings about Vaughters, I do think that fan funded teams could be a way to support the economics of a team.

With the web, it really could be easy to get small dollar funding at very low cost.

[Tandem Rider]

At least JV is trying something different than the same old same old, which, judging from the comments, we all agree is a recipe for failure. I guess we can't call him insane...