$270 million from Saudi Arabian investor could drive One Cycling reform project

The AlUla Tour landscapes
The AlUla Tour landscapes (Image credit: Getty Images)

A sports investor company owned by Saudi Arabia's Public Investment Fund (PIF) has emerged as a frontrunner to back the new One Cycling reform project that hopes to revolutionise professional cycling, according to a report by the Reuters news agency and sources contacted by Cyclingnews

Reuters suggested that SRJ Sports Investments has begun exclusive negotiations about a potential investment of around €250 million ($270 million) after a bidding process run by consulting firm EY on behalf of a select group of leading teams.

Stephen Farrand
Head of News

Stephen is the most experienced member of the Cyclingnews team, having reported on professional cycling since 1994. He has been Head of News at Cyclingnews since 2022, before which he held the position of European editor since 2012 and previously worked for Reuters, Shift Active Media, and CyclingWeekly, among other publications.