British Cycling has announced it is hiring consultants to secure new “strategic investment partners” as part of a business shake-up that will see its commercial interests and events portfolio transferred into a new company.
British Cycling Ventures (BCV) will absorb all commercial activity previously run by the governing body, and will be tasked with “leverag[ing] British Cycling’s IP and maximis[ing] commercial opportunities.”
British Cycling will continue to serve as the national federation, which includes responsibility for its elite racing programme. It will also continue to directly run its charity organisation, the British Cycling Foundation.
Announcing the new company, British Cycling said “Every success delivered by BCV will directly fuel the broader British Cycling Group, enabling continued investment in the organisation’s purpose of bringing the joy of cycling to everyone.”
The news come a week after British Cycling announced a profit for the first time in five years despite annual membership numbers decreasing by 11,000, a drop of 8 percent.
British Cycling has hired consultants from Oakwell Sports Advisory to “secure strategic equity and investment partners for BCV”. Oakwell has previously worked with the International Tennis Federation, World Athletics and World Rugby.
Despite declining membership, British Cycling has dramatically increased its commercial revenue since 2023, aided by sponsorship and partnership arrangements with, among others, Lloyds Bank and Shell UK.
The latter arrangement, signed in 2022, has proven controversial due to the alleged greenwashing and sportswashing that the British oil and gas company is benefiting from. Shell say the sponsorship aligns with its “long-term sustainability strategy”.
Among the responsibilities being assumed by BCV is British Cycling’s Events portfolio. This includes the running of the men’s and women’s Tour of Britain which British Cycling took over at the end of 2023, reportedly due to unpaid rights fees. The previous organising company, SweetSpot, entered voluntary liquidation weeks later.
In its 2024-25 financial accounts, British Cycling Events recorded a loss that was explained as “part of our investment to grow our sport”. It’s absorption into the BCV will mean British Cycling is hoping increased commercial revenues will directly fund this investment in the future.
BCV’s primary purpose will be to “expand its events portfolio” across multiple disciplines. This would align with the recommendations of its Elite Road Racing Task Force report. Chaired by Ed Clancy, the task force recommended that British Cycling “explore opportunities to increase the number of UCI 1.2 and 2.2 races” and “review the national road calendar and ensure more races are outside of the north of England” among other recommendations.
British Cycling’s Chief Commercial Officer, Darren Henry, will serve as Managing Director of BCV. In a statement announcing the commercial separation Henry said “the launch of British Cycling Ventures is a landmark moment for our organisation and a transformative step for British sport.
“For the first time, we have a dedicated commercial engine designed to elevate cycling’s reach, create unforgettable experiences for riders and fans, and build sustainable growth far beyond our traditional horizons.”
BCV’s objectives also refer to “future non-event commercial opportunities” for maximising revenue, including “partner platforms, digital ecosystems, and new revenue models aligned with how fans engage with the sport today.” This may include a new social media strategy and the consideration of paywalls in certain contexts.
8 thoughts on “British Cycling brings in corporate finance consultants and creates new events wing to “supercharge commercial growth” amid declining membership figures”
“supercharge commercial
“supercharge commercial growth” amid declining membership figures”
Can I be the first to say, that if you’re prioritising commercial growth, that might be why your membership figures are declining. It’s hard to believe that even after all this time, you still haven’t got it. Margaret Thatcher is dead, but her spirit lives on in BC.
The reason I, and I think
The reason I, and I think many of us, left BC to join CUK. Unfortunately I’m not convinced that CUK are not going in the same direction.
Bungle_52 wrote:
How is CUK going for supercharged commercial growth?
It either that or put up
It either that or put up membership fees. Neither of which seems to satisfy cyclists.
Velovoyeur wrote:
Ah yes, it’s all we malcontent cyclists’ fault and lovely Shell are saving us from higher membership fees with their generosity. Absolutely no blame attaches to the leadership for latching onto the teat of the petrodollar regardless of members’ feelings or the reputational damage caused. The total amount of Shell’s sponsorship has never been disclosed but it certainly amounts to well below 10% of BC’s total income; BC has demonstrated with its deals with other companies that there is an appetite for sponsoring cycling and they should have worked harder to attract sponsors more in accordance with the ethos of cycling and members’ wishes. Accepting the Shell sponsorship was not, as you imply, a make or break, either/or scenario.
No problem – tell BC to
No problem – tell BC to severe ties with Shell and loose the corresponding income. This will have to be replaced from somewhere which will be membership fees. Unless there is a different acceptable sponsor willing to come in of course. Having sat in discussions where BC members have objected to a £5 increase, I doubt the raise to replace Shell would go down well. But if every member is happy to pay an extra £25 per year then let’s do it.
Perhaps being sponsored by
Perhaps being sponsored by shell while trying to attract members who are maybe cycling for environmental reasons isn’t the greatest business model
They’re part of the problem,
They’re part of the problem, not part of the solution