EXHIBIT 23.1



                         CONSENT OF INDEPENDENT AUDITORS


We consent to the reference to our firm under the caption "Experts" in Amendment
No. 1 the Registration Statement (Form S-3 No. 333-63088) and related Prospectus
of Cannondale Corporation for the registration of 977,777 shares of its common
stock and to the incorporation by reference therein of our report dated August
10, 2001 with respect to the consolidated financial statements and financial
statement schedule of Cannondale Corporation and subsidiaries included in its
Annual Report (Form 10-K) for the year ended June 30, 2001, filed with the
Securities and Exchange Commission.


                                            /s/ ERNST & YOUNG LLP

Stamford, Connecticut
October 5, 2001