Oleg Tinkov has decided to put an end to his involvement in cycling and the Russian tycoon has told Cyclingnewsthat 2016 will be his last year as main sponsor and owner of Alberto Contador's and Peter Sagan's team. Tinkov is disappointed not to have been able to implement his ideas and leaves the sport for personal and professional reasons.

He has told the technical staff and his riders about the decision at the training camp in Gran Canaria. Only Sagan and Majka have a contract for 2017. Stefano Feltrin, his right hand atTinkoff, is searching for a new owner and sponsors.

In an exclusive interview with Cyclingnews, Tinkov has expained the reasons for his departure. "It will be the last season in the sport for Tinkoff Bank and for me,” he told Cyclingnews. “There are two main reasons for my decision and I hope people will understand them and then reflect on why professional cycling has lost a guy who has spent over €60 million and who loves the sport.

“First of all, Tinkoff Bank has sponsored the team for five years and from a marketing point of view that’s enough. We’re not a global bank, the economical situation in Russia is not great and my marketing people tell me that we’ve reached all the investors we can via cycling and sports sponsorship. We’ve decided we have to switch our advertising budget to direct TV advertising in 2017."

However, he also feels frustrated because he has felt alone in his fight against ASO, organizer of the Tour de France, and the International Cycling Union (UCI). “That’s the logical, business side of my decision. The other half is more complex and a lot more personal and is why I refuse to use any of my personal wealth going forward. I’ve decided to sell the team and quit the sport because I’ve realised nobody wants to work with me to help change the business model of the sport. In the last two or three years I’ve tried to fight with ASO and the UCI, I’ve tried to find new revenue streams via TV rights, merchandise sales and tickets sales but nobody really supported me and wanted to take a strong stand with me," he says. "[Sky principal] Dave Brailsford is the only one who tried to support me. I met Jonathan Vaughters a couple of times; he’s a good talker when he’s at the restaurant but he never really supported me. During 2015, I started to feel like Don Quixote de la Mancha."

Tinkov does see any future for cycling with the current structure. “But if nobody else cares about the future of the sport, then why should I care? F*ck all of them! That’s my personal reason why I want to leave professional cycling. From January 2017, I’m gone. I’m out of cycling. I’ll jump on my jet, fly home and focus on my business interests and enjoying my life. Everyone who is left in cycling will be the ones who will be in the shit. They will have to try to survive year by year, trying to convince sponsors to back a sport that isn’t sustainable," he says. “The UCI are stupid guys."

“I’ve no regrets about quitting after 2016. I love cycling, it’s my favourite sport. I’ll continue to follow it as a fan but I’ve decided I can’t be part of it unless it changes," he concludes in his interview with Cyclingnews.

You can read the entire interview here.