Hi guys:

I am a factory like "racer", and my sponsor is a C-Dale dealer, he receipt this letter, I hope it helps you. Please, just don't question my realibility on this info.



February 21, 2003



Dear Cannondale Motorsports Dealer -

Thank you so much for your past support and for your patience during this difficult time.

I apologize that I haven’t been in contact with you sooner regarding our Chapter 11 filing, but to be honest, there is still a good deal of uncertainty regarding the ultimate direction of our motorsports division. What we do know is this: As part of our Chapter 11 filing, we have agreed to separate the motorsports division from the bicycle division, and to suspend operations of the motorsports division while we work to find a buyer for it. As of today, it appears that the motorsports division will be sold through an auction process on March 20th, under the supervision of the federal bankruptcy court. From that point forward, the direction of the motorsports efforts will be determined by its new owners.

In the meantime, we are doing what we can to service our motorsports dealers and customers, as allowed within the sometimes significant constraints of the Chapter 11 process. For example, we are still answering tech questions at our 1 800 MOTO USA hotline. We are still shipping motorcycle and ATV parts to assist Cannondale dealers and owners. And finally, we are working feverishly to see that Cannondale motorsports survives into the future under new ownership, which is probably the best way to honor the commitment and support that you and our other dealers have shown us.

I apologize that our motorsports efforts have not gone according to plans. The support we’ve received from our dealers throughout our five years in motorsports has been incredibly heartening, and we will always be extremely grateful to you and our other dealers.

Thank you again for your support, and for your ongoing patience. I'm optimistic that things will become clearer for us all in the coming weeks.

Sincerely,



Joseph Montgomery
Founder & President

 

My dealer got the same letter.

 

Yeah, we got ours today finally....letter was dated feb. 21st....