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News & Racing<\/a><\/p>\n A pivotal meeting suggests the Ivan Glasenberg-led TeamCo initiative is on the threshold of gaining a critical mass of support among teams. What happens next, however, is very much up in the air.<\/p>\n Kristof Ramon, Cor Vos<\/p>\n A majority of men\u2019s WorldTeams are predicted to become shareholders in a new company that hopes to finally force through transformative reform in professional road cycling.<\/p>\n Led by six verbally committed seed investors, including billionaire Ivan Glasenberg (owner of the Pinarello-Q36.5 ProTeam) and superteams Visma-Lease a Bike and Lidl-Trek, TeamCo \u2013 a project that Escape Collective exclusively revealed in January \u2013\u00a0has been in the works since last autumn, formed out of the ashes of the One Cycling project that was rejected by the International Cycling Union (UCI) last summer.\u00a0<\/p>\n <\/p>\n Exclusive: WorldTour team owners are driving a new reform project<\/p>\n From the ashes of One Cycling comes another attempt to change pro road racing\u2019s business model, led by two of the sport\u2019s billionaires.<\/p>\n According to several sources within TeamCo \u2013 all of whom spoke anonymously as they were not authorised to speak on its behalf \u2013\u00a0 it is expected that between 12 and 15 World and ProTeams will sign shareholder agreement contracts with TeamCo before the end of May, with the seed investors expected to invest \u20ac3,571.429 each to give the company a cash sum of \u20ac25 million from the outset. Equity was something that One Cycling never had.<\/p>\n Though both TeamCo and One Cycling share the same principle ideas \u2013 namely: to improve commercial rights, improve financial sustainability for teams and pit the world\u2019s best riders against each other more frequently \u2013 the key difference between the two ventures beyond the initial financing is that this time round it is team owners rather than managers who are leading the talks.\u00a0<\/p>\n Escape Collective obtained two TeamCo draft documents, dated as recently as March 2026, that listed seven individuals and\/or businesses as seed investors \u2013 people providing the required capital to a startup business in exchange for a percentage of the company\u2019s share capital; in this instance, that amounts to a collective total of 5%. No money has yet been invested in TeamCo, and no documents have yet been signed. All of those investors \u2013 bar one \u2013\u00a0are said to still be involved. But the seventh investor whose name appeared in that March draft document \u2013 Sylvan Adams \u2013 told Escape that he is not a part of the project, although how his name came to be included is an open question.<\/p>\n This post is for paying subscribers only Already have an account? Sign in<\/a><\/p>\n Did we do a good job with this story?<\/p>\n \n \ud83d\udc4dYep![\"Chris](\"https:\/\/www.newsbeep.com\/ca\/wp-content\/uploads\/2025\/09\/CMB-mug-shot-aspect-ratio-99-99-150x150.jpeg\")
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