UCI clears Astana to start race Wednesday after Armstrong’s cash-hit team gives proof of funds

Astana cleared to race after giving proof of funds

AIGLE, Switzerland — Cycling’s governing body cleared Astana to race Wednesday after Lance Armstrong’s team guaranteed its immediate finances.

The International Cycling Union said Astana provided proof it has funds in time to compete in the five-day Tour of Luxembourg starting Wednesday.

“The UCI asked for new bank guarantees from Astana,” said Enrico Carpani, the governing body’s spokesman. “Astana has respected the deadline and can take the start in the Tour of Luxembourg.

“We will follow the situation very closely,” he said.

The UCI threatened to withdraw Kazakhstan-based Astana’s racing license after riders went unpaid for two months. It extended a deadline that passed Sunday after the Giro d’Italia race.

Astana receives most of its financial support from Kazakh state holding company Samruk-Kazyna, but the Central Asian nation’s economy has been badly hit by the global financial crisis.

Armstrong is riding for free this season but led teammates in a protest at the Giro when they wore jerseys with the sponsor name faded out.

Astana intends to ride in two more stage races in June — the Dauphine Libere in France and Tour of Switzerland — before lining up for the Tour de France starting July 4 in Monaco.