Little has been reported recently about the "One Cycling" project, which aims to shake up the world of professional cycling. [The project could be signed before the end of the 2024 Tour de France, after which it will be in full swing for the 2026 season, when the UCI will award new licenses to teams and major race organizers.

One Cycling is not a breakaway league, but it aims to revolutionize professional cycling in the coming years. By investing in private equity, One Cycling officials will have the financial muscle to challenge the current status quo and counter the dominance of Tour de France organizer ASO and the strict governance of the UCI. [Belgian race organizer Flanders Classics is also listed in documents obtained by Cycling News. Other marketing experts such as Sports Consultancy, Turnstile, and Colganbauer are said to offer advice and expertise.

The massive Sports Boulevard Foundation project in Saudi Arabia is also described in a 150-page one-cycle presentation document that details many aspects of the project, including media rights, sponsorship, business plans, and development. However, it is unclear whether Saudi private equity will ultimately invest in One Cycling. [Visma-Lease a Bike, EF Education-EasyPost, Soudal-Quickstep, Ineos Grenadiers, Lidl-Trek, Red Bull-Bora-Hansgrohe have been involved in the project for some time and Bahrain Victorious and other teams are said to be involved.

Tudor Pro Cycling, Israel Premier Tech, and Lot Doustony are also involved in the project, while other teams, including the major French WorldTour teams, have announced their participation. Details on what role women's teams could play in the One Cycling project are also very limited at this time.

Sources close to the One Cycling project, who asked not to be named, described the project in detail to Cycling News. They confirmed that private equity is funding the project, but declined to say who is funding the project and how much. In the spring, it was reported that Saudi Arabia's Public Investment Fund (PIF) was the leading candidate to support the project and was prepared to invest 250 million euros.

The new private company, owned by One Cycling officials, would seek to generate new revenue and monetize fan involvement and sponsor interest by working with teams and race organizers to form a new calendar with the goal of a higher profile, season-long narrative.

Digital technologies and marketing techniques used in the sport will also be leveraged as part of the One Cycling project to create new event rights, digital platforms, betting, gamification, merchandising, and fan membership strategies.

With the involvement of both major teams and Flanders Classics, it has been argued that One Cycling could in the near future become a unique and powerful stakeholder in the sport, second only to ASO, which owns the Tour de France and many other races.

OneCycling's owners hope that their solidarity will enhance their bargaining power with the UCI, other race organizers, sponsors, and broadcasters.

"It's not about getting rich, it's about making the sport more balanced. We want to be fan-centric so that more people can understand and enjoy our sport," a person close to the One Cycling project told Cyclingnews.

One Cycling hopes to help transform the current racing calendar without affecting the three Grand Tours and the biggest classics, and no longer plans to create new races. However, ASO has already opposed cooperation with One Cycling. RCS Sport, the organizer of the Giro d'Italia, told Cycling News that it is watching the development of the project but is not involved.

It is unclear how the AIGC Team Association and the CPA Athletes Association will react to the establishment of One Cycling and its impact on the sport.

One Cycling teams may agree to send their best riders to certain races, and if their teams form part of it, Jonas Vingegaard, Wout Van Aert (Wisma - Lease a Bike), Tadej Pogachar (UAE Team Emirates), Remco Evenepoel (Sudar-Quick Step), and others would play against each other more often.

However, it has been argued that if big-name riders and teams try to create an alternative season to the current World Tour calendar, they would lose out on smaller early-season races and even the current World Tour races.

The largest one-cycling teams and riders could clash in 75% of new calendars affected by one-cycling.

"We want to have a good relationship with the UCI and they understand the OneCycling project, and ASO also understands that they have to grow the sport while protecting their interests," the source said.

"ASO has a monopoly on the sport and wants to protect their interests, but One Cycling does not want to take anything away from them. As has always been said, we want to make the cycling pie bigger for everyone and create more economic stability."

Securing private equity to fund the One Cycling project is another important step in the project. After months of meetings and analysis, the project appears to be moving closer to reality.

"The project is not 100% certain, but it is close," said a One Cycling official.

"We are convinced that nothing can stop us. We just need a little more time before we can say it will happen. At the moment we feel we are in a breakaway group that is close to winning. I think this is an important moment for professional cycling."