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Riis & Seier-project from the inside – English summary thread.
@Feltetdk has talked to several former employees from the Virtu-company, and will release several articles on the matter in the coming weeks. https://www.feltet.dk/nyheder/riis_amp_seier-projektet/
Riis & Seier-project from the inside – English summary thread.
@Feltetdk has talked to several former employees from the Virtu-company, and will release several articles on the matter in the coming weeks. https://www.feltet.dk/nyheder/riis_amp_seier-projektet/
I will expand on this thread, as more articles are made. So look no further.
In this first one we see how the company was founded as an ambitious project, that wanted to revolutionize how a cycling team was run.
But Riis’ name in the business made a potential deal with Bahrain in 2015/16 fall through according to sources.
But Riis’ name in the business made a potential deal with Bahrain in 2015/16 fall through according to sources.
The project was formally launched on the Danish luxury hotel D’Angleterre, but the launch ended up as a big anti-climax because the mentioned Bahrain-deal didn’t happen. Apparently because Nibali didn’t want to lose influence to Riis according to my sources.
Lars Seier Christensen denies this to http://Feltet.dk , and states that the negotiations with Bahrain only occurred after the D’Angleterre meeting. Articles from before D'Angleterre validates my sources claims though. https://www.bt.dk/cykling/laver-riis-cykelhold-med-bahrain-prins-her-er-lars-seiers-finurlige-svar
That source is Bjarne "VM" Jensen. A man who has been close to Riis since the 80’s and talks for the first time in this series of articles. He was the best-man at Riis' wedding.
Because of the failed deal the launch ended up being a lot of hot air, but with a very good vision.
They wanted a number of business-enterprises built around a pro-team, which would make the traditional sponsors unnecessary Seier and Jensen explains.
They wanted a number of business-enterprises built around a pro-team, which would make the traditional sponsors unnecessary Seier and Jensen explains.
The opportunity for a WT-team didn’t present itself. Several sponsors were afraid to touch Riis according to Jensen.
Instead Riis & Seier ended up taking over a male CT-team and a women’s WT-team. A new road to the WT?
Instead Riis & Seier ended up taking over a male CT-team and a women’s WT-team. A new road to the WT?
The faith of that venture is the topic of tomorrow's article.
Stay tuned. We got a lot more stuff coming your way.
Feel free to ask questions or DM me with question as this thread expands.
Stay tuned. We got a lot more stuff coming your way.
Feel free to ask questions or DM me with question as this thread expands.
2nd article: The establishment of Virtu Women
Main source is Bo Handberg Madsen former DS. Very straightforward man not involved in the sport anymore. https://www.feltet.dk/nyheder/tidligere_virtu-sportsdirektoer_synes_holdet_blev_smidt_paa_moeddingen/
Main source is Bo Handberg Madsen former DS. Very straightforward man not involved in the sport anymore. https://www.feltet.dk/nyheder/tidligere_virtu-sportsdirektoer_synes_holdet_blev_smidt_paa_moeddingen/
After having failed going to the WorldTour. Riis & Seier decided on a different route.
They first took over the male CT-team Team Trefor and in November 2016 they took over the women-team BMS-Birn as well.
They first took over the male CT-team Team Trefor and in November 2016 they took over the women-team BMS-Birn as well.
That team was owned by Bo Handberg Madsen, and he continued as DS on Virtu Women.
The partnership didn’t last long though, and Handberg was fired a year later after the European Champ. in Herning while on his way to a race in Sweden.
The partnership didn’t last long though, and Handberg was fired a year later after the European Champ. in Herning while on his way to a race in Sweden.
Handberg Madsen points to this as a classic example of the bad communication in the company between Riis and the rest.
It wasn’t even Riis himself who fired Handberg Madsen, because he apparently avoided all conflicts.
It wasn’t even Riis himself who fired Handberg Madsen, because he apparently avoided all conflicts.
Today both of the mentioned teams are dead, and Bo Handberg Madsen claimed Riis & Seier just wanted to exploit the good-will which women cycling had at that time.
The strongest statement in this series so far.
The strongest statement in this series so far.
He claims they never really cared for the project, and slowly but surely ran the team into the ground through terrible communication and bad decisions.
Splashing money at the project doesn’t always help he claims.
Virtu Women shut down at the end of 2019.
Splashing money at the project doesn’t always help he claims.
Virtu Women shut down at the end of 2019.
Lars Seier claims otherwise and points to the fact that they spend millions on the Virtu Womens team which they otherwise could have saved.
They didn't need to enter women cycling, but did so out of interest and a good heart.
I won’t be the judge on this matter.
They didn't need to enter women cycling, but did so out of interest and a good heart.
I won’t be the judge on this matter.
Stay tuned more articles are coming in the next couple of days.
We'll dive deeper into the daily business of the company, and hear from more employees.
We'll dive deeper into the daily business of the company, and hear from more employees.
3rd Article: The problem with Virtu Cycling Gear
Day 3 in our series on the Riis & Seier-project.
We discuss transition of business after the shutdown of Virtu-group, and a little bit of actions in the shadows. https://www.feltet.dk/nyheder/riis_amp_seier-projektet_quotgearquot_koeres_videre_-_trods_agenturstrid/
Day 3 in our series on the Riis & Seier-project.
We discuss transition of business after the shutdown of Virtu-group, and a little bit of actions in the shadows. https://www.feltet.dk/nyheder/riis_amp_seier-projektet_quotgearquot_koeres_videre_-_trods_agenturstrid/
The Virtu-Group consisted of many different companies and business’. Among them was a travel agency, an exercise-bike that was to rival Zwift, and Virtu Cycling Gear which sold cycling gear and jerseys through deals with big companies like Castelli.
When Virtu shut down with very short notice the 31st of march, the employees only had a few hours notice before it was made public.
Lars Seier states to http://Feltet.dk that this is very common procedure in these cases.
Lars Seier states to http://Feltet.dk that this is very common procedure in these cases.
Nonetheless it left a lot of questions for the now unemployed people at Virtu.
One of them was: What to do with the individual companies? Should they simply be shut down, or try to live on?
One of them was: What to do with the individual companies? Should they simply be shut down, or try to live on?
In the case of Virtu Cycling Gear Lars Seier Christensen and former pro-rider now author and businessman Per Bausager (Pic) have both stated publicly that the latter will take over Virtu Cycling Gear.
He was running the company before Virtu shut down. Makes sense.
He was running the company before Virtu shut down. Makes sense.
Several sources has told http://Feltet.dk that this transition wasn’t as smooth as one might think.
Even before the lockdown several people in Virtu tried to go behind Bausager’s back and tried to get the contracts with Castelli and Sportsful for themselves Thereby cutting him out of the company.
We can’t go in to details who did it, but it put a lot of strain on Bausager.
We can’t go in to details who did it, but it put a lot of strain on Bausager.
This ended with Bausager getting work-related stress about a month before Virtu was shut down.
It all seems to end well though. The contracts and the Virtu Cycling Gear agency seems to go to Bausager in.
He posted that on Facebook a few days ago and Lars Seier Christensen confirmed it in the comments.
He posted that on Facebook a few days ago and Lars Seier Christensen confirmed it in the comments.
Stay tuned:
Tomorrow we’ll dive further into Virtu, and look at how the daily business went along.
Some former employees are not all happy with the leadership shown by Riis.
Tomorrow we’ll dive further into Virtu, and look at how the daily business went along.
Some former employees are not all happy with the leadership shown by Riis.
#4 in Riis & Seier-series from @Feltetdk – Riis’ leadership gets criticized
In this article we focus on three former employees who all experienced working with Bjarne Riis at the Virtu Group.
They all have something to say about the cycling-boss. https://www.feltet.dk/nyheder/riis_amp_seier-projektet_haard_kritik_af_riis_fra_egne_raekker/
In this article we focus on three former employees who all experienced working with Bjarne Riis at the Virtu Group.
They all have something to say about the cycling-boss. https://www.feltet.dk/nyheder/riis_amp_seier-projektet_haard_kritik_af_riis_fra_egne_raekker/
Let me start by saying. These sources didn't want to talk before the Virtu-group was dissolved and their former friends and co-workers were not effected by these statements.
It's dissolved now and that's why their coming forward.
It's dissolved now and that's why their coming forward.
The first one is Christa Skelde. She has been a leader on the Danish Conti-Scene for over a decade and was hired as an administrative director in spring 2017.
She has previously worked on Team Cult among others.
She has previously worked on Team Cult among others.
She quickly ran into trouble with Riis, because she never got any responsibilities. Every important decision was made by Riis, and Skelde complained that she just felt like an extra. Hired for an image perhaps, but with no real say in the company.
That image was her and her husbands Michael Skelde’s ethical values. They have been working with athletes and have a lot of know-how when it comes to motivating athletes
Those values were not understood by Riis according to another former employee Bo Handberg Madsen.
Those values were not understood by Riis according to another former employee Bo Handberg Madsen.
He backs Christa up in her story, and adds that Riis always went around mingling in the employees business.
Soon after he would leave again leaving unfinished business and changed orders behind him for his employees to clean up.
Soon after he would leave again leaving unfinished business and changed orders behind him for his employees to clean up.
An example that often occured was that Handberg Madsen would say one thing to his riders (Virtu Women), and then later he would find out that Riis went behind him and gave a different instruction to the team without Handberg Madsen knowing.
Really stressful according to him.
Really stressful according to him.
Handberg Madsen also points out that Riis had no interest in the business of Virtu. He knew about running a WT-team but didn't really care about business.
That’s why he kept on mingling in his staff’s work.
Madsen points out: As an owner you must either be there 100% or leave it to your staff. Never in-between and that’s what Riis did.
Handberg Madsen thinks a lot of things could have gone different if they had realised this.
Madsen points out: As an owner you must either be there 100% or leave it to your staff. Never in-between and that’s what Riis did.
Handberg Madsen thinks a lot of things could have gone different if they had realised this.
The best source on Riis is his long-time friend Bjarne “VM” Jensen. They have known each other since the 80's.
He also points to the fact that Riis is not a business-man. He doesn’t read any papers whatsoever and is non-communicative. He never calls you back.
He also points to the fact that Riis is not a business-man. He doesn’t read any papers whatsoever and is non-communicative. He never calls you back.
Jensen had a hard time grasping why Riis & Seier wanted to hire the former Australian Pro-rider Michael Rogers for Virtu.
It was a danish company where all the economy and important documents were in Danish. Why an australian?
It was a danish company where all the economy and important documents were in Danish. Why an australian?
REMARKABLE STATEMENT
Handberg Madsen claims that the image that exists of Riis in Denmark as a great leader didn’t check out with what he experienced working at the Virtu-Group.
Perhaps this image should be taken up for revision?
Handberg Madsen claims that the image that exists of Riis in Denmark as a great leader didn’t check out with what he experienced working at the Virtu-Group.
Perhaps this image should be taken up for revision?
Lars Seier tried to get Riis to comment on this matter, but he refused sadly.
Seier didn’t mind commenting himself though saying that he wasn’t close to the everyday business, but that he know Riis has experience from the great time which the employees at Virtu didn’t.
He admits this might have created som misunderstandings and tension.
He admits this might have created som misunderstandings and tension.
So. That was a dramatic article to be sure, and as a Danish cycling fan and a journalist talking to all these people I had my image of Riis dramatically altered working with this.
That's all for today. Feel free to ask question. We'll be back with more in this series.
That's all for today. Feel free to ask question. We'll be back with more in this series.
#5 Riis & Seier Project from @Feltetdk - Praise to Riis from the Riders
For this article i talked to @k_asgreen, @AlexanderKamp1 and Michael Reihs.
All former riders from Virtu.
Let's hear what they have to say
https://www.feltet.dk/nyheder/riis_amp_seier-projektet_ros_til_riis_fra_rytterne/
For this article i talked to @k_asgreen, @AlexanderKamp1 and Michael Reihs.
All former riders from Virtu.
Let's hear what they have to say
https://www.feltet.dk/nyheder/riis_amp_seier-projektet_ros_til_riis_fra_rytterne/
All the riders experienced Riis as a very good motivator and good at giving advice.
@AlexanderKamp1 experienced this on a training camp at Mallorca, where Riis followed him down the mountains yelling at him to stop touching the brakes
@AlexanderKamp1 experienced this on a training camp at Mallorca, where Riis followed him down the mountains yelling at him to stop touching the brakes
The honest dane mentioned that Riis would tell the riders to relax more between sessions, and that he would say "I won the Tour de France that way".
Kamp adds sharply that Riis was on the same stuff as the others back in the 90's so something he must know about training
Kamp adds sharply that Riis was on the same stuff as the others back in the 90's so something he must know about training
Michael Reihs says that Riis followed the teams efforts even when he wasn't there.
He also mentions that the issues between the management that @Feltetdk mentioned in a previous article didn't reach the riders.
He also mentions that the issues between the management that @Feltetdk mentioned in a previous article didn't reach the riders.
@k_asgreen seconds that after having read our articles.
He adds that this shows great professionalism from the leaders and staff. If there was any issues they kept it amongst themselves and away from the riders
He adds that this shows great professionalism from the leaders and staff. If there was any issues they kept it amongst themselves and away from the riders
The King from Kolding also mentions that DS Michael Skelde had a great influence on him, and that he owes to him and Riis that he has become the rider he is today.
Kamp seconds that, calling Skelde the best DS he has ever had.
He also likes the bond he has with Riis. It was Riis himself who recommended Kamp to leave the team for @RiwalCyclingPCT because he didn't have the money to become Pro-conti.
He also likes the bond he has with Riis. It was Riis himself who recommended Kamp to leave the team for @RiwalCyclingPCT because he didn't have the money to become Pro-conti.
In the end i want to point out what a ridiculous squad Virtu had in 2017:
@k_asgreen, @AlexanderKamp1, @NiklasEg, @michaelcarbel, @Larsen_Niklas, @RasmusGuldhamme and @AnthonCharmig
All strong riders. Many of them are on the WT today!
That's all! See you all soon with more
@k_asgreen, @AlexanderKamp1, @NiklasEg, @michaelcarbel, @Larsen_Niklas, @RasmusGuldhamme and @AnthonCharmig
All strong riders. Many of them are on the WT today!
That's all! See you all soon with more
Riis & Seier Project – “NTT construction still under consideration”
Posted about this yesterday, but here’s a more comprehensive summary on our latest article.
We talk about Virtu's investment in NTT, and discuss why the deal is not yet finalized. https://www.feltet.dk/nyheder/riis_amp_seier-projektet_ntt_konstruktion_stadig_under_overvejelse/
Posted about this yesterday, but here’s a more comprehensive summary on our latest article.
We talk about Virtu's investment in NTT, and discuss why the deal is not yet finalized. https://www.feltet.dk/nyheder/riis_amp_seier-projektet_ntt_konstruktion_stadig_under_overvejelse/
*Please read until the end. We got a lot of important stuff to cover*
Back in January Bjarne Riis and Lars Seier called for a massive press conference at the legendary Hotel d’Angleterre (second time around), and the news were massive: Virtu-Group would buy 33% of the existing WT-team NTT, and a letter on intent was made, so that this could happen.
The three owners behind the share was Bjarne Riis, Lars Seier Christensen and businessman Jan Bech Andersen (Also owner of the football club Brøndby).
Now, in the final days of April. There is is still no closing of the deal Lars Seier Christensen confirms to http://Feltet.dk :
“It’s correct that we’re still working on the corporate-structure regarding NTT,” Seier says.
“It’s correct that we’re still working on the corporate-structure regarding NTT,” Seier says.
According to him this is not going to be a big issue, and that it might still be a while before there will be closing.
So. Riis and Seier are still gonna buy the share according to the latter.
So. Riis and Seier are still gonna buy the share according to the latter.
But why is this dragging on?
One big bump on the road was definetly the closing of the Virtu-Group on 31st of march.
Covid-19 was mentioned as the cause, but the owners confirmed at the time, that the buying of the NTT share would still go through. Probably with a new company.
One big bump on the road was definetly the closing of the Virtu-Group on 31st of march.
Covid-19 was mentioned as the cause, but the owners confirmed at the time, that the buying of the NTT share would still go through. Probably with a new company.
Why hasn’t it happened yet then?
Seier mentions that it’s a matter of formalities, and he believes that Riis’ part in NTT can help lift the team to new hights. He even hopes that NTT might be the start to a new “danish”-squad ala Saxo Bank.
Seier mentions that it’s a matter of formalities, and he believes that Riis’ part in NTT can help lift the team to new hights. He even hopes that NTT might be the start to a new “danish”-squad ala Saxo Bank.
But maybe the situation isn’t that harmonious.
Several rumors out there also mention that Jan Bech Andersen might be leaving the group.
They claim he has initiated a lawsuit against his old companions, and has started a thorough investigation of the Virtu-Group.
Several rumors out there also mention that Jan Bech Andersen might be leaving the group.
They claim he has initiated a lawsuit against his old companions, and has started a thorough investigation of the Virtu-Group.
To @Feltetdk Lars Seier denies all this, and says it’s not true at all.
Jan Bech Andersen refrains from commenting but adds that he will talk “When the time is right”.
Jan Bech Andersen refrains from commenting but adds that he will talk “When the time is right”.
That's where i leave you. Can't say anymore atm.
But let me state one thing: Me and my colleagues at @Feltetdk wouldn't spread "rumors" unless we had talked with a lot of people, and had done our homework.
Stay tuned. And please ask question below if you have any.
But let me state one thing: Me and my colleagues at @Feltetdk wouldn't spread "rumors" unless we had talked with a lot of people, and had done our homework.
Stay tuned. And please ask question below if you have any.
