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New plan to inject venture capital into pro cycling ‘necessary step’, says Vaughters

New plan to inject venture capital into pro cycling 'necessary step', says Vaughters

The men’s peloton rides by the Arc de Triomphe at the world’s biggest pro race, the Tour de France This week reports uncloaked a behind-the-scenes…

Friday, Oct 27

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The men’s peloton rides by the Arc de Triomphe at the world’s biggest pro race, the Tour de France This week reports uncloaked a behind-the-scenes push to overhaul the business model of professional cycling. Led by Jumbo-Visma CEO Richard Plugge and Soudal-QuickStep’s wealthy backer Zdenek Bakala, the scheme is designed to bring large amounts of venture capital into the sport to help shore up what are increasingly dire economics.

The details of the plan are still unclear, but Plugge and EF Education-EasyPos t CEO Jonathan Vaughters spoke to the ‘Radio Cycling’ podcast revealing some new information.

The plan is to combine a number of teams and events into a more easily-digestible format accessible to new viewers, one that avoids any overlapping races such as now exist in the current WorldTour.

The tenets of the scheme sound very much like the genesis of the WorldTour that dates back to 2004, ensuring the top riders and teams are in the same series of races throughout the year.

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There is one key difference, according to Vaughters, in that Plugge’s project aims to bundle races into one package to sell rights to broadcasters and bring in revenue that can be shared with teams – all of which still sounds very familiar to anyone who followed the last attempts at a breakaway league that Bakala threw his weight behind in 2011 .

Read more Jumbo-Visma and Ineos in secret plan to shake up pro cycling with venture capitalists Exclusive: Power struggle explodes in AIGCP teams association […]

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