British UCI Continental Cycling team Team UK Youth are to fold at the end of the 2013 season.
The team, founded by motor racing great Nigel Mansell, has been highly successful especially in events such as The Tour Series but has not been able to find a sponsor for next season.
Mansell released the following press statement this morning: "Team UK Youth was formed four years ago. Over this period the team has gone from strength to strength culminating in this season as the top UK team and Tour Series Champions.
"The Mansell family have been proud to solely sponsor the team over the past four years in the aim to obtain full sponsorship for the 2014 season; unfortunately this has been found to be impossible in the present financial climate.
"As a result we have convened numerous meetings this week to review the situation and possibilities and alternatives open to us. Unfortunately and sadly we have no alternative but to come to the difficult decision that unless a last minute headline sponsor can be found within the next few weeks then Team UK Youth will not be competing in the forthcoming 2014 season.
"Understandably an early decision has been paramount to enable the riders and support staff the opportunity in seeking a ride for the 2014 season and I wish them well.
"Finally I am personally so proud of the team's dedication and achievements and would like to thank all of the team's many supporters and other sponsors who have helped make this success possible."