Paris Wallace, President and co-founder of The National Cycling League
The bicycle, a symbol of modernity and speed, is now entering its next level as a professional sport with the National Cycling League (NCL). The new league raised $7.5 million to get it on its way to becoming a diverse sports owner and innovator. Most minority and female owners include NBA star Bradley Beal, Rachel Lindsay (previous Bachelorette), and Jalen Ramsey (NFL), among others. NCL intends to disrupt the vanilla-laced bicycle sector by tapping into the $127.83 million global bike market in 2029.
What You Need to Know:
NCL is the first professional league to be backed by Black and Brown and offer equal pay for women and men. The combined gender teams are equally valued for their performance and score. This diversity is strikingly in contrast to the current-state of the sport. According to the Washington Post, USA Cycling revealed recently that it had 86% white, 83% male, and 50% middle-aged members.
The NCL will provide a broad audience with unparalleled experience and impact in sports, media, and entertainment. To create a unique ecosystem, it has carefully curated a network that includes VCs, professional athletes, and celebrities. Additional investors include Derwin James, Casey Hayward, Kevin Byard from the NFL, Will Ventures, and Founders Collective.
Paris Wallace, NCL’s President & Co-Founder, stated that the primary focus of NCL is on professional cycling’s next stage. He also said, “We believe our diverse ownership & teams will inspire a new generation Black and brown entrepreneurs and will attract new previously exclusion audiences from seeing a pathway to becoming a professional cyclist athlete,” CultureBanx released.
Spinning up Success:
The NCL was built around three beliefs: Diverse Ownership (Gender Equity), Sustainability, and The league’s sports events will occur at the intersection between the virtual and real worlds, where fans can watch and participate. The TikTok-exclusive club will feature a short, fast, and action-packed cycling event. Fans can interact with athletes’ performance data through NCL’s technology platform.
The market is primarily driven by higher cycling adoption as a hobby or exercise. The founders of the National Cycling League stated that this large cycling community of 50 Million Americans, who spend approximately $13 Billion per year on their bikes, didn’t have a home or an organized professional sports league. NCL’s long-term success depends on NCL working across the country to promote the next wave in professional cycling.
New Sports Movement:
The National Cycling League launches at a time when other neo-sports like Pickleball have been gaining popularity. The latest sports craze is attracting major NBA stars with significant investments. LRMR Ventures is the family office of LeBron Jam and Maverick Carter. They are buying a Major League Pickleball team in an all-star consortium with Draymond green.
Kevin Durant, a former NBA champion, has bought a Major League Pickleball expansion squad from Thirty-Five Ventures. They will compete in 2023’s MLP season. These athletes are tapping into the Pickleball market, which is predicted to reach $25.3 billion by 2028.
The NCL will host many races in 2023. The races will begin in April in Miami, Atlanta, and Denver.