PROFESSIONAL cycling team sponsor NFTO has pulled out of the elite peloton for next season.

The cycling team, which was founded by Hereford businessman John Wood, earned their professional status in 2013.

Since then theirriders have gone on to regularly win some of country's biggest races and have competed against the best in the world internationally and at the Tour of Britain.

The team has had a host of success including Ian Bibby winning the National Criterium Championships in 2015.

However, NFTO have this week revealed that it will be withdrawing their name from the professional racing circuit next year.

"We have invested heavily in what has been a hugely successful team," said team director Marcus Greenwood.

"We can only look back with pride from what started as a vision by John and I think that we have shaken up the British cycling scene.

"It went from a local team, to riding regionally, to nationally and then internationally.

"We have had some brilliant riders including Adam Blythe in 2014 and one of our aims was to give them the platform to be back where they wanted to be racing on the world circuit.

"That's always been our mandate that and to make sure our riders were always well looked after.

"The key thing is that there is only one revenue in cycling and as long as that is the case teams are always going to come and go.

"It is a competitive industry and it will take time to find a more commercial suitable way.

The team has been handed over to Leeds based rider Tom Barras who has appealed for a shortfall of between £25,000 and £50,000 to continue with the team under a different name.

NFTO Race Club, which was formed before the professional outfit and has hundreds of cycling members across the county, will continue.

"It's really important that the club does keep going and NFTO are keen for that to continue as the professional team was born out of that," added Greenwood.

"That's what it originally was and that's what we want it to continue to do."