Biniam Girmay's Intermarché-Wanty in serious financial difficulties: "We risk bankruptcy"

Intermarché - Wanty has had a good season when taking into consideration it's budget. With €14 million per season it stands among the last spots in the World Tour, but since 2022 the presence of Biniam Girmay has helped the team a lot in terms of exposure, popularity, and this summer with a tremendous three stage wins and green jersey at the Tour de France. Despite this, the team still finds itself very limited by the lack of money in comparison to top teams.

“You can’t keep doing this forever. Not that there is fear of what the future will bring. We have sporting prospects, crucial in our current context”, team manager Aike Visbeek told Het Laatste Nieuws. “But we cannot afford to ‘sleep’ and not think long term. It mustn’t become a ticking time bomb. At some point we will have to take those necessary steps. And grow. If not, we risk bankruptcy, unless the connection from the bottom up is perfect and you always achieve the maximum result with the minimum number of people. A virtually impossible task.”

The team is currently based around a few sprinters and classics riders, with Louis Meintjes being the only true GC rider - who often races alone in the mountains at his own pace. The Belgian team is not at risk of being relegated next season if all goes normal but it's main issues lies in it's finances. Which is surprising to Visbeek taking into consideration Girmay's presence in the team.

“So it is about time that fresh money comes in. The position of second title sponsor is open... It is strange actually, that that ‘gap’ is so difficult to fill. With Biniam Girmay we have someone with his own identity, who made the front pages in America and stands out enormously on the international market," he adds. "We sincerely hope that it will still happen.”

The lack of a big budget right now means that they are not able to get big signings, this includes talented young riders who will often sign with big teams who can offer large contracts right from the start of their time in the elites. “To be able to continue working with this tight budget, you have to fully commit to talent development, for example, and make optimal use of the available potential. Exactly what we are doing. The easiest thing would be to get a few riders who have just had a fantastic season and maybe a strong GC rider who will provide more peace and balance. But that is financially unfeasible.”