Back in September, as a series of pro-Palestine demonstrations saw the Vuelta a España descend into chaos, Sylvan Adams, the owner of Israel-Premier Tech – the subject of those rowdy protests – claimed to have rejected requests from the race organisers urging his under-fire team to leave the Spanish grand tour. Doing so, Adams insisted, would amount to “surrender to the terrorists”.
The Canadian-Israeli billionaire, who co-founded the Israel Cycling Academy over ten years ago, also dismissed reports circulating at the time that the squad was considering changing its name for 2026, branding the speculation “fake news” and asserting that his team “will never ride without the name Israel”.
Fast forward two and a half months, and Israel-Premier Tech is no more.
Since Adams’ defiant declaration at that most anarchic of Vueltas, where the final stage in Madrid was dramatically curtailed due to rowdy protests, the team removed any reference to ‘Israel’ from their jerseys at certain races, became embroiled in a legal battle with wantaway star rider Derek Gee, and pulled out of Italy’s autumn classics due to safety concerns.
Then, in the face of mounting pressure from sponsors to rebrand and change its name, in early October the squad announced a move away from its Israeli identity for 2026, while Adams also stepped back from day-to-day operations. This rebranding exercise, however, ultimately wasn’t enough to appease the team’s former backers, as title sponsor Premier Tech and bike supplier Factor waved goodbye to the beleaguered outfit this month.
Nevertheless, on Thursday night, months of turbulence, chaos, and tension – focused on the team’s involvement in cycling’s biggest races amid the ongoing war in Gaza – finally came to a head. Kind of.
In a statement issued on the team’s rebranded website, it was announced that international sports and entertainment company Never Say Never (NSN) and global investment platform Stoneweg have entered into a “joint venture” to take over Israel-Premier Tech’s WorldTour and development teams.
The rebranded squad will be known as NSN Cycling Team and will race under a Swiss licence, though the team will also have a strong Spanish identity, with bases in Girona and Barcelona.
That Spanish structure stems from NSN, a branding company co-founded by Barcelona footballing legend Andrés Iniesta, the scorer of the winning goal that secured Spain’s tiki-taka World Cup triumph in 2010.
NSN, which says it aims to “connect global audiences through the power of sports and entertainment”, is involved mostly in football, entertainment, and music, organising several high-profile friendly matches across the world while owning second-division Danish team Helsingør FC. The company also holds a majority stake in gravel bike brand GUAVA.
Geneva-based investment bank Stoneweg, meanwhile, has been involved with Israel-Premier Tech since 2023, with this new ‘joint venture’ formalising its ties with NSN, Stoneweg now holding shares in the Spanish company.
A new chapter. A new vision.
NSN and Stoneweg today unveil the NSN Cycling Team. pic.twitter.com/AUsomVZbs3
— NSN Cycling Team (@NSNCyclingTeam) November 20, 2025
“We are proud to welcome NSN and Stoneweg to the team and announce our new name and identity: NSN Cycling Team,” Kjell Carlström, who stays in his position as the team’s general manager, said in a statement.
“NSN’s acquisition of the team license, and subsequent role in the team’s operations, is an opportunity to welcome investment from an industry leader in global sports and entertainment, drawing on their wealth of experience to the benefit of the team and our partners.
“NSN shares our commitment to innovation, development, and pushing the boundaries of what’s possible in cycling. Our long-term relationship with Stoneweg acts as a foundation for this new partnership and together, we have ambitious goals for the coming WorldTour cycle.
“This is an incredibly exciting new chapter for the team, and we can’t wait to make our debut as NSN Cycling Team.”
“It is a huge challenge for NSN to immerse ourselves in the world of cycling, a sport with global reach,” added NSN President and co-founder Joel Borràs.
“It represents a fantastic opportunity to explore new ways of communicating and connecting with a sport that aligns with the values of our company, and for the NSN Cycling Team to bring fresh passion to a sport that has inspired millions of people for many years.
“We want to thank Stoneweg for all the support they have given us in driving this exciting project, which opens up a new and thrilling path for us in the world of sport. We could not have found a better partner to give this team a renewed boost.”
What’s next for NSN?
So, what lies ahead for the newly rebranded NSN Cycling Team? Well, first off, Sylvan Adams’ continued involvement is, as yet, unclear.
Carlström’s statement seems to suggest that NSN have purchased the squad from the Quebec-born billionaire, who founded the then-Cycling Academy Team with Ron Baron in 2014. That team then evolved into Israel Start-Up Nation, and then Israel-Premier Tech which, though not state-owned, Adams viewed as playing an ambassadorial role for the country.
Thursday’s statement included no mention whatsoever of Adams, and road.cc’s request for clarification on his continued involvement is yet to receive a response.
Last month, when the team’s rebranding project was first announced, it was noted that the 67-year-old would step back from day-to-day operations and no longer speak on behalf of the team, in order to focus on his presidency of the World Jewish Congress.
If it is confirmed that Adams has indeed stepped aside, that could play a huge role in influencing how the rebranded team is received by race organisers, host cities, the peloton, and pro-Palestine protesters next season.
It was reported this week that the Canary Islands said they would refuse to host the planned finale of next year’s Vuelta a España if Israel-Premier Tech take part, regardless of their new identity, due to Adams’ role as owner.
However, Adams’ probable exit should go a long way to appeasing these concerns, which have also thrown the 2026 Tour de France’s start in Barcelona into doubt. It remains to be seen, however, whether the protests which have dominated the 2025 campaign will ease thanks to the team’s new Spanish flavour.
The lack of clarity surrounding Adams’ role extends to the team’s other partners. This week, it was reported that Factor, who have supplied the team’s bikes since 2020, have terminated their contract with the squad.
According to Daniel Benson, Scott – who recently parted ways with Tom Pidcock’s Q36.5 team – are due to step into the void left by Factor, with the Swiss brand’s bikes reportedly spotted at NSN’s service course in Girona.
It also remains to be seen what effect, if any, the rebranding project will have on the team’s reported legal battle with former star stage racer Derek Gee.
Last month, Gee claimed that he is facing a €30 million damages claim from Israel-Premier Tech after he attempted to terminate his contract with the team, citing “certain issues which simply made my continuation at the team untenable”.
These issues, the Canadian champion said, included his “irreparable relationship with the team principal, as well as serious concerns related to racing for the team, both from a safety and personal belief standpoint that weighed heavily on my conscience.”
Gee also criticised the team’s decision to launch legal proceedings, and described the team’s decision to rebrand and change its structure as “cosmetic”. The extent to which this week’s changes are cosmetic will probably determine how long his legal battle with his (old) team rumbles on.
When it comes to racing, the big news surrounds the expected signing of Tour de France green jersey winner Biniam Girmay, who has been widely reported to have agreed a deal to join from Intermarché-Wanty, a team also in disarray amid protracted negotiations to merge with Belgian squad Lotto.
28 riders are currently under contract with NSN for 2026, as the team steps back up to WorldTour level, including Brits Lewis Askey, Joe Blackmore, Jake Stewart, Ethan Vernon, and Stevie Williams, as well as three-time Irish champion and new signing Ryan Mullen.
There is no space, however, for four-time Tour de France winner Chris Froome, after the 40-year-old was released by the team in the wake of a few barren seasons, a serious training crash, and a turbulent relationship with none other than Adams, who once claimed his star rider did not represent “value for money” and instead resembled a “pedestrian domestique”.
But with Adams seemingly out of the picture, is the cycling world ready to move on from the biggest story of 2025? Could we be faced with the prospect of Biniam Girmay, riding in NSN’s as-yet undetermined colours, winning in Barcelona at the Tour de France next July? And, most importantly, will anyone care?
1 thought on “From ‘no surrender’ to NSN: Barcelona legend Andrés Iniesta’s company takes over Sylvan Adams’ Israel project – but what’s next for cycling’s most controversial team?”
Not going to lie, “Cycling’s
Not going to lie, [I]”Cycling’s most controversial team”[/I] is itself quite the controversial claim.