Today CULT announced that they will stop their sponsorship of CULT Energy-Stölting Group with immediate effect.

Denmark's biggest cycling team, Cult Energy Pro Cycling which has merged with Team Stölting to become CULT Energy-Stölting Group, will lose their main sponsor which has been with them for three years.

The agreement between the company and Stölting Group has been broken because the German company has not paid the money they promised in September and so CULT has terminated cooperation with Stölting as of today. CULT owner Brian Sørensen informed the Germans just three hours before the press conference.

"We are saddened by what happened today. We have fought hard for this but we will not associate our name with Stölting when they can’t honour our deals,” he told CyclingQuotes.com.

"Unfortunately, the confidence is gone. CULT cannot collaborate closely with a company whose values are not consistent with our values. As a consequence, we have decided to terminate our sponsorship with immediate effect," he said. Brian Sørensen guarantees that the riders will get paid for 2015, but the Danish company will not sponsor anything in 2016.

Stölting should have taken over the responsibility for all payments from the Lion Cycling, the company behind the cycling team, but have not lived up to the deal. As a consequence, CULT have bought the equipment from Lion Cycling, guaranteed the wages and stopped the cooperation with Stölting. Brian Sørensen does not rule out that they will return at some point. He doesn’t know what will happen to the team now as he has just informed Stölting about the decision.

"I'm keeping my fingers crossed that it will have no impact on Danish cycling. [Manager]Michael Skelde has a contract with Stölting from January 1 so that is still valid. I do not think that anything will prevent the team from continuing under a Danish license. I do not know if they will or can turn it into a German license," he concluded.

Stölting has responded to the accusations in a press release.

"Stölting Cycling GmbH, the company formed to act as a paying agent for the newly registered CULT Energy – Stölting Group as of 2016, was informed today by CULT Global ApS that it wishes to withdraw its sponsorship of the 2016 team. CULT Global ApS and Stölting Service Group had signed contracts with Stölting Cycling GmbH to be the main sponsors of the team," the statement reads.

"CULT claims that Stölting has not been carrying out its agreed-upon duties, which is not correct. The official cooperation begins on January 1, and Stölting has fulfilled all the duties necessary to prepare for the 2016 season. The specific claim regarding the mentioned purchase of equipment also has no basis because Stolting has in fact fulfilled all its promises regarding this issue.

"Stölting Cycling GmbH has reacted to the news with surprise and believes that CULT is simply searching for an exit to the sponsorship because it cannot afford to fulfill its commitment.

"Stölting Cycling GmbH is working to find a solution to keep the team active in 2016. More news will follow with new developments."