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By Amy-Jo Crowley, Anousha Sakoui and Julien Pretot
LONDON (Reuters) – A variety of main European biking groups have been exploring plans to create a brand new aggressive league in a transfer that might reshape the game’s panorama and allocate extra funding for members, three folks accustomed to the matter instructed Reuters.
Exterior traders may assist finance the challenge, two of the folks stated, talking on situation of anonymity as a result of the discussions are personal. The enterprise may amalgamate new and current races, one of many folks stated.
About 5 groups round Europe together with Ineos Grenadiers are concerned within the early-stage talks and extra may be a part of, the folks stated. Tour de France champion Jonas Vingegaard’s Jumbo-Visma crew can be concerned within the talks, considered one of them stated.
Spokespeople for Ineos Grenadiers and Jumbo-Visma declined to remark.
Huge 4 accounting and consulting agency EY is in search of expressions of curiosity from potential traders for the challenge and has set a deadline for indications this week, two of the folks stated. A spokesperson for EY declined to remark.
Reuters was not capable of verify how lengthy the discussions have been occurring for. An settlement just isn’t imminent and a deal might not proceed, one of many folks stated.
Amongst these displaying curiosity is CVC Companions, the previous proprietor of Components One motor racing, two of the folks stated. A spokesperson for CVC declined to remark.
The challenge goals to distribute a number of the features from biking occasions amongst the groups, which presently rely largely on exterior sponsorship for funding, the folks stated.
It’s a response to the groups considerations that the lion’s share of earnings from the primary biking races together with the Tour de France, La Vuelta and the Giro d’Italia go to their organisers, folks accustomed to the plans stated.
Amaury Sports activities Organisation (ASO) controls the Tour de France and La Vuelta whereas the Giro d’Italia is managed by RCS Sports activities.
Any deal would comply with a pattern in different world sports activities equivalent to golf and tennis, the place traders have poured in new capital and attracted gamers and golf equipment to compete with the older, established occasions.
This isn’t the primary time biking groups have explored a brand new biking league challenge. Eight groups based a league challenge known as World Collection Biking (WSC) on the finish of 2012 however the plans did not materialise.
(Reporting by Amy-Jo Crowley, Anousha Sakoui and Julien Pretot; Further reporting by Andres Gonzalez; Enhancing by Elisa Martinuzzi and Hugh Lawson)
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