"The decision to close down NZXC Racing was extremely hard, as it has personally been something I have been extremely focused on for the past four years as owner, manager, and coach," Thompson said.
"It was something that I had always seen as important for mountain biking in New Zealand, and the vision from the start was to create a team that supported our talented riders to keep them in the sport, while creating a clear pathway for up-and-coming riders, which without a doubt I can say we achieved."
The NZXC Racing team included six riders in the elite squad, which competed both nationally and internationally, and 10 riders in the development squad which was primarily a junior team.
National cross country women's champion, and Commonwealth Games representative, Kate Fluker (Queenstown) was an elite rider and said it was sad to see the team come to an end.
"I am very sad to see all the hard work Sam has put into the team come to an end and selfishly it has made me realise how much more work I am going to have to do for myself this season!
"It has been an absolute pleasure to be a part of."
The NZXC Racing team offered riders support, coaching, mentorship and training camps.
Thompson thanked all those who helped the team.
"This wouldn't have been possible without all the people and companies that supported NZXC Racing over the years. Thank you, and I look forward to the future of the sport of mountain biking in New Zealand."