flash_10.27.23_CYCLING-M-A

Sports

Reuters exclusively reported[1] 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.  

Market Impact

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. 

Article Tags

Topics of Interest: Sports

Type: Reuters Best

Sectors: Sports

Regions: Europe

Win Types: ExclusivitySpeed

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Significant National Story

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