Despite the surprising news that five of the top cycling teams, including INEOS Grenadiers, Jumbo-Visma, and EF Education EasyPost, are considering creating a ‘Super League,’ many have recognized the need for change for some time. The central question was: who could fund this transformation?
Now, according to information released by Radio Cycling, the Public Investment Fund (PIF) of Saudi Arabia is willing to take on the role of financier. This controversial group has had significant involvement in the world of golf in recent years and owns the Newcastle United Football Club.
“RadioCycling understands that the Public Investment Fund (PIF) of Saudi Arabia is part of the proposed new league, which promises to revolutionize and change cycling forever,” they revealed on their official X (Twitter) account.
“The PIF, which has heavily invested in football, golf, boxing, and F1, has held discussions with key stakeholders in the league.” “RadioCycling was informed that the league has been in negotiation for three years, and six major teams are involved.”
According to the post, the league is the brainchild of Jumbo-Visma’s general manager, Richard Plugge, who is also the driving force behind One Cycling, a new entity aimed at making cycling sustainable.
The UCI, the governing body of cycling, is on board, and ASO, the owners of the Tour de France, have also had meetings.”