Imagine a world where Saudi Arabia becomes a key player in the global cycling arena. This possibility is on the horizon as the International Cycling Union (UCI) explores investment opportunities with Saudi Arabia, led by UCI president David Lappartient. With an eye on collaboration, Lappartient emphasizes that any engagement with the Gulf state should not lead to the creation of a competing league.
Saudi Investment in Cycling: A New Era?
Earlier this year, it was reported that Saudi Arabia’s Public Investment Fund (PIF), through SURJ Sports Investment, was in discussions to invest approximately €250 million into a new cycling league. This initiative, which had seen interest from other major investors like CVC Capital Partners, aims to establish a premier cycling competition.
The concept of a new elite league has been circulating for nearly a year, with teams such as Ineos Grenadiers and Team Visma previously investigating the idea. Despite these developments, Lappartient remains optimistic about increased investment in cycling, provided it aligns with UCI’s principles.
Collaboration Over Competition
Lappartient has made it clear that while Saudi Arabia’s interest is welcomed, it should complement rather than compete with existing structures. He stated, “You are welcome to cycling, but we need to work together and respect the UCI’s red lines.”
He also confirmed meeting with Saudi officials during the Paris 2024 Olympic Games to discuss potential collaborations.
While a rival league could potentially increase revenue for teams and riders, previous attempts to finalize such a deal have not succeeded. However, Ernst & Young (EY), tasked with finding an investor, is currently collaborating with a potential backer.
Despite these efforts, Lappartient is confident there will not be a separate Saudi league. He envisions a partnership that would allow Saudi Arabia to integrate into the existing cycling ecosystem, benefiting all parties involved.
Expanding Horizons: Beyond Cycling
Should SURJ proceed with its investment in cycling, it would join a diverse portfolio that includes a stake in the Professional Fighters League (PFL). This move follows SURJ’s rebranding after investing in mixed martial arts and being a frontrunner for a new ATP Tour tennis tournament. The PIF’s broader investment strategy also includes owning Premier League club Newcastle United and creating LIV Golf, with interests extending to a new boxing league and a cricket franchise.
Saudi Arabia’s potential entry into the cycling world is a testament to its growing influence in global sports, offering exciting opportunities for collaboration and growth.
