26 October 2023, 6:15 pm 1 minute
Reuters exclusively reported on Wednesday evening that major European cycling teams have been exploring plans to create a new competitive league in a move that could reshape the sport’s landscape and allocate more funding for participants. Reuters was first to reveal the possible shake up to the sport, some of the parties involved and the possible investor to back the initiative, private equity firm CVC.
External investors could help finance the project, two of the people said, speaking on condition of anonymity because the discussions are private. The venture could amalgamate new and existing races, one of the people said.
Topics of Interest: Sports
Type: Reuters Best
Win Types: ExclusivitySpeed
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story