One Cycling - Is Saudi Arabian investment problematic?

'Basic human rights are ignored' - The One Cycling initiative aiming to revamp the sport has reportedly gained €300m in Saudi investment

The ASO-run AlUla Tour was launched in 2020. Image: AlUla Tour/Pauline Ballet

Professional cycling could look very different in 2026. One Cycling, an initiative backed by several WorldTour teams, may be about to be given the green light.

One Cycling aims to revamp the sport by pitting the best riders in the world against each other more often, establishing a fairer financial system and changing the racing calendar - as reported by Chris Marshall-Bell for Escape Collective.

To launch, One Cycling has reportedly garnered a cash injection of €300m from SURJ Sports Investment, part of Saudi Arabia’s Public Investment Fund (PIF). In recent years, PIF has invested in a host of major sports and cycling appears to be next on the list. Should cycling fans be concerned, or welcome the financial investment? Or perhaps both?

PIF rose to notoriety due to the not-so-amicable launch of LIV Golf in 2022, a breakaway golf league which enticed players away from the long-established PGA with big pay-packets. LIV and the PGA have been negotiating a merger since 2023.

They have also revolutionised the sport of boxing, using their financial power to create mega-fights including two undisputed heavyweight bouts between Oleksandr Usyk and Tyson Fury in 2024. Other sporting investments include the purchase of Newcastle United FC, sponsorship of the ATP and WTA tennis tours and hosting the 2034 FIFA World Cup.

Cycling does not exist in a vacuum - although at times it may seem to. By accepting financial investment from Saudi Arabia, cycling follows a prevailing global sporting trend.

Indeed, Saudi investment is not new to cycling. Australian WorldTour teams Jayco-AlUla and Liv-AlUla-Jayco both have a Saudi naming sponsor (although, curiously, the team has reportedly refused to be involved with One Cycling discussions despite AlUla being owned by PIF). Liv-AlUla-Jayco also have a Saudi rider in their development team. The AlUla Tour, previously known as the Saudi Tour, has been run by Tour de France organisers ASO since 2020. This reported deal with One Cycling, however, is something more than sponsoring a team or organising a race - this deal would give the Saudis influence over the sport as a whole.