While Sir Jim Ratcliffe’s proposal to acquire a 25 percent stake in Manchester United is still pending approval, his INEOS cycling team is part of a consortium planning a breakaway cycling tour. There’s speculation that Saudi Arabia’s Public Investment Fund, which holds the majority ownership of Newcastle United, may be in discussions to provide financial support for this restructuring effort.
INEOS is one of five teams involved in the “One Cycling” group, which aims to implement a reorganization of the sport similar to the UEFA Champions League format, resulting in a significant transformation of the cycling calendar. This initiative has arisen amidst growing tensions with ASO, the organizer of the Tour de France, and concerns regarding the financial viability of cycling teams.
Jumbo-Visma, a successful team that won all three of this season’s grand tours and dominated many one-day races, is facing the end of its sponsorship deal with the Dutch supermarket chain Jumbo in the near future. This challenge has prompted them to explore options, including the possibility of merging with another cycling team.
Ineos and Jumbo-Visma, along with EF Education-EasyPost, Soudal-Quickstep, and Lidl-Trek, are supporting the “One Cycling” initiative. According to sources, preliminary discussions have taken place with PIF for potential funding. ASO is reportedly resistant to these proposed changes, although they already have an existing partnership with PIF through the Dakar Rally.
If this plan comes to fruition, a revised calendar is expected for 2026. This new calendar would involve teams participating in fewer race days throughout the year, with a greater focus on races beyond the Tour de France, which continues to hold a dominant position in terms of broadcasting rights.
Richard Plugge, the head of Jumbo-Visma, discussed the potential for these changes in an interview with RadioCycling, noting, “The world is evolving around us, and our competitors are no longer just other cycling teams; they now include sports like football, rugby, NFL, and Formula One.”
“We must ensure that our sport is prepared for the future. It’s crucial that in five years, cycling is even more significant than it is today, and this growth will be beneficial to everyone,” emphasized Plugge, who has authored a book addressing changes to the cycling calendar and strategies to maximize revenue. He added, “By establishing a robust and streamlined league with fewer races, we can enhance the sport’s overall value for all stakeholders.”
Plugge downplayed previous associations between PIF and the sponsorship of the Jumbo-Visma team earlier this year.
In the meantime, Ratcliffe is awaiting approval from United’s board for his £1.3 billion offer to purchase a quarter of United, which is anticipated to be finalized in the coming weeks. Upon completion, it is suggested that INEOS will assume control of the club’s football operations, including recruitment.
Leave a Reply