Heavy debt and broken promises: Intermarché–Lotto merger creates tension one week before deadline

Both Lotto and Intermarché-Wanty are struggling to hold their own in the WorldTour. Although their performances are still solid, it is particularly challenging financially to keep up with the other teams. With a merger, they hope to reconnect with the (sub)top. But that will come at a cost.

Many riders will have to leave, but staff members will also have to say goodbye. Stéphane Heulot, CEO of Lotto, has already decided to step down from the team. Jean-François Bourlart, CEO of Intermarché-Wanty, will assume these duties when the two teams merge. This marks the end of three years under the Belgian's leadership.

But who will stay and who will leave? According to Het Nieuwsblad, Jannie Haek, CEO of the National Lottery and therefore Lotto's main sponsor, had promised that the staff of that team had nothing to worry about. That team worked with permanent contracts, whereas Intermarché-Wanty hardly ever did. So this is good news for the staff working for Arnaud De Lie, among others.

At least, that's what you would think. Because several mechanics, as well as Chief Medical Officer Milan Holvoet, have been informed that they are allowed to leave. They are all staff members who have been with the team for a long time, but that doesn't matter. Haek's promise is not being honored, all to make the team cheaper.

Now that Bourlart will take on the role of CEO of the merged team, it seems that the staff members of Intermarché-Wanty have the upper hand. The long-term implications of the merger remain to be seen. The teams announced during the Tour de France that they had signed a letter of intent, but the official announcement is expected to follow later.

The announcement will have to come soon, because the deadline expires in a week. It is precisely in the final stage that the merger appears to be encountering difficulties. According to Het Laatste Nieuws, there are several reasons for this, the main one being a substantial debt. Intermarché-Wanty is reportedly 2.5 million euros in the red. That is 15% of the entire annual budget.

Bourlart's team expected Lotto to help with this, but the National Lottery sees it as the fault of Biniam Girmay's team, among others: they had to clean up their own mess. Ultimately, a compromise was reached, as evidenced by the departure of Lotto employees. Intermarché has started selling equipment.

The team cars and buses are being sold. That is a small sacrifice compared to the human casualties on the part of Lotto. This has created a tense atmosphere within the ProTour team, one week before the deadline. Even though CEO Heulot was not the most popular person, people now feel completely betrayed.