Uh-oh. One of Cycling's Biggest Backers Is Behind On Sponsorship Payments

One of the biggest cycling sponsors in North America is not denying rumors that it is behind in paying sponsorship invoices, but the CEO of Idaho-based Exergy says it still plans to meet all of its sponsorship obligations.

Exergy CEO James Carkulis yesterday told Cycling News that delays in some of its energy projects have trickled down and affected sponsorship payments. Despite the delay, Carkulis says all sponsorship payments will be made.

Cycling News writes, "it's been nearly impossible to attend a cycling event over the past two seasons without seeing the Exergy Development Group's windmill logo splashed all over jerseys, race banners or title sponsorship."

Just this past January, USA Cycling and Wasserman signed Exergy to a major sponsorship that gives it sponsor branding at all 17 national championship events as well as on national team jerseys.