BERLIN (Reuters) - Germany's Gerolsteiner will not extend its contract with the cycling team and its boss Hans-Michael Holczer after it runs out at the end of 2008.

The German beverage maker said recent doping scandals were not behind the decision but added they had devalued the sport.

Gerolsteiner has been the main sponsor of the team since 1998. In recent years it had established itself alongside T-Mobile as one of the world's leading teams.

"The recent doping incidents are not the reason for the decision," Gerolsteiner said in a statement.

"They did, however, contribute to the temporary devaluation of cycling as a communications platform."

Joerg Croseck, managing director of marketing, confirmed that Gerolsteiner would not exercise an option to extend the contract after 2008.

"It was not an easy decision," he said on the company's Web site (www.gerolsteiner.de).