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Greg Minnaar off a questionable Global Team

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Chimp
Nov 5, 2001
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0
Astoria, NY
Press Release - Monday January 13, 2003.


Greg Minnaar Released from Global Racing


Over the past weekend Greg Minnaar was released from his 2003 Global Racing
contract allowing him to pursue a place on another team for the coming
season. 23 Degrees Sports Management, the owners of Global Racing, have
assisted Greg with this move so as to ensure he has a secure ride for the
upcoming race season. His new team is expected to announce his signing later
today.

"Obviously Greg has been a major part of Global Racing and we are very proud
of all he has achieved for the team. He is the consummate professional. With
things still uncertain for Global Racing in 2003 it was simply not possible
for Greg to wait any longer, and we fully support his decision to find
another ride", said Martin Whiteley of 23 Degrees today.

"I have had some incredible experiences in the past two or so years at
Global Racing and I am still very much a big supporter of what the team
stands for. One thing that gives me a lot of pride is that if the team does
secure funding in the next month or so, I know there will be a place for
another African rider, and that will be cool. I have always wanted to see
more Africans on professional cycling teams. Right now I am both looking
forward to my new ride, and looking back at a great experience", said Greg
this morning from his home in Pietermaritzburg, South Africa.

23 Degrees Sports Management continues to pursue sponsorship and has some
good leads that will not be fully confirmed one way or the other until the
first week of February. The team owners felt it wasn't reasonable to ask a
former World number 1 to wait that long and then possibly have no ride.

All the athletes and staff of Global Racing were all told at the end of
season 2002 that they were free to look for other employment, as we had no
guarantees on the table. While we regret that riders need to move to other
team, we prefer that they have a secure future instead of waiting for a deal
that may not actually eventuate in 2003.

If there is no team racing in 2003, the brand "Global Racing" will continue,
with the view of returning to racing as soon as possible. If we are
successful in finalizing a sponsor in the next month, we will also make that
announcement at the appropriate time.

As owners of the brand, 23 Degrees Sports Management continues to trade, and
remains active in many other areas, such as event and business consulting,
athlete management in cycling and motor racing, and running commercial
training camps.

Greg Minnaar will continue to be managed by 23 Degrees Sports Management,
and so will his successful Big Air Training Camps www.BigAirCamps.com

We obviously wish Greg all the very best in his new venture and thank him
for all he has done for Global Racing and the fans.


END

Martin Whiteley
Director
23 Degrees Sports Management