Cycling ‘Breakaway’ League Said to Plan Equity Offer to UCI
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The organizers of a proposed 10-race series that Union Cycliste Internationale President Pat McQuaid called a “breakaway” league are working on a plan that would give the sport’s governing body an undisclosed stake, two people familiar with the situation said.
The offer comes as sports marketing company Gifted Group Ltd. tries to win UCI support for World Series Cycling after its first proposal was rejected, said the people, who declined to be identified because the discussions are private and ongoing. London-based Gifted Group didn’t offer any equity to UCI in the first plan.