Visma CEO Richard Plugge Warns: Pro Cycling in a “Downward Spiral” and Demands Urgent Business Reform

Visma CEO Sounds Alarm Over Cycling’s Future

Professional cycling may be approaching a critical crossroads. Visma–Lease a Bike CEO Richard Plugge has warned that the entire sport is caught in a “downward spiral” and needs an urgent financial overhaul to survive.

Speaking at his team’s recent media day in La Nucia, Spain, Plugge painted a stark picture of a sport struggling to sustain itself. “For everyone, we’re in a downward spiral as cycling — whether we like it or not,” he said. “That’s why the urgency becomes bigger and bigger every day.”

Plugge believes the Union Cycliste Internationale (UCI) must take charge of structural reform, using more profitable global sports as models for the future.

A Model Under Pressure

Cycling, unlike Formula 1 or MotoGP, still relies heavily on sponsorships rather than direct revenue from broadcasting or centralised media rights. Plugge argues this outdated approach leaves teams and organisers financially vulnerable.

“It’s up to the UCI to change the business model,” Plugge explained. “Maybe using examples like Formula 1 or MotoGP — there are many examples better than what we have in cycling.”

That call comes amid news that Dutch public broadcaster NOS will drastically cut its cycling coverage from 2026. Races such as the Vuelta a España, Paris–Nice, and the Critérium du Dauphiné will disappear from free-to-air television — a major blow to fan access and visibility.

The reason? Broader cuts at NPO, the Netherlands’ public broadcasting organisation, which faces savings of over €156 million per year from 2027. Plugge called the move “a bad sign” for the sport’s long-term health.

The Push for Reform Revives

After the UCI rejected the OneCycling initiative in 2025 — a project Plugge helped spearhead — new reform talks have re-emerged. This time, leadership comes from cycling’s wealthiest backers, including Ivan Glasenberg (Pinarello–Q36.5) and Zdeněk Bakala (Soudal–Quick Step).

According to sources reported by Escape Collective, the new effort aims to:

Restructure how teams and races share revenue.
Create a more coordinated and global racing calendar.
Modernise the sport’s commercial rights management.

Big-name sponsors like Red Bull, Decathlon, and Lidl are said to be showing interest — potentially injecting the sport with the corporate and media support it has long lacked.

Teams and Organisers Facing Financial Strain

Even the most successful squads are feeling the squeeze. Despite being the dominant team in recent seasons, Visma–Lease a Bike now ranks only around fifth or sixth in team budgets, behind deep-pocketed rivals such as UAE Team Emirates–XRG.

Plugge acknowledged that the growing financial gap could destabilise the entire ecosystem.

“Not only teams, but also organisers are getting into trouble,” he noted. “Even relatively big teams are getting in trouble. So you have to make sure cycling makes a big change.”

Plugge’s team continues to focus on identifying and developing young talent — a strategy that has produced stars like Jonas Vingegaard and Wout van Aert — but he warns that even innovation and efficiency have limits if the system itself remains unbalanced.

What’s Next for Professional Cycling?

The renewed reform talks could become a turning point. If cycling can restructure its business model along the lines of Formula 1 — with centralised media rights, fairer revenue sharing, and a global brand identity — it may finally escape its dependence on individual sponsorships.

But the clock is ticking. With broadcasters cutting coverage and some organisers reportedly struggling to fund races, the sport’s future stability may hinge on real structural change — and soon.

Quick Takeaway

Cycling’s traditional funding model is outdated and unstable.
Teams and organisers are facing financial pressure amid rising costs.
New reform movements, led by major investors, could reshape the sport’s economy.
Visma CEO Plugge urges the UCI to act before cycling loses its global relevance.