The Bahati Foundation, which is fielding several riders at Superweek, including founder and former national champion Rahsaan Bahati, is ceasing operation, according to Bicycling Magazine’s Bill Strickland.

It’s not a huge surprise given the team’s financial difficulties earlier this summer. I’m not sure what this means for the riders racing this week, or whether the squad will still field riders at next month’s national championship in Glencoe. VeloNews reports that the current management will form a pro-am team for the balance of the season.

Bahati withdrew from Monday’s road race in Whitnall Park but won the field sprint for 4th Sunday in Evanston.

Update: Bahati released a statement Wednesday evening saying that the Bahati Foundation would continue, but that the team would be “undergoing a reorganization ... All the riders and staff who have been loyal to the team are moving forward with the new team.”