Ivan Glasenberg's mysterious cycling team: What does the commodity billionaire have in mind for cycling?

Ivan Glasenberg would never rest until he'd achieved his goals. This remains true even now, in retirement, four years after leaving the much-criticized commodities group Glencore, whose IPO made him a multi-billionaire.

In 2022, amateur endurance athlete Glasenberg was disqualified from the Zug Triathlon for failing to serve a time penalty. He returned in 2023 and won his age group, the over-65s. Glasenberg won't stop until he's on top. Where he believes he belongs.

This raises the question of what the successful manager, who was the target of activists and industry critics during his Glencore reign, intends to do in cycling. Glasenberg owns the bicycle manufacturer Pinarello and a significant stake in the clothing brand Q36.5, which is the primary owner of the professional team of the same name.

The Q36.5 team, which operates under a Swiss license, has puzzled observers since its founding two and a half years ago. Despite powerful sponsors like UBS, it is still far from challenging the top teams UAE or Visma. At the Tour de Suisse, the team is also mostly riding along, apart from a few isolated exploits by Swiss rider Jan Christen. Those behind the scenes are passionate cycling enthusiasts. But their goals don't always seem to coincide.

Take Luigi Bergamo, for example, the Italian founder of the clothing company Q36.5. He's a meticulous tinkerer who continually seeks contact with riders to discuss his innovations. He's just developed a shoe with a power wrap in the midfoot, which promises both greater freedom of movement and perfect power transmission. That sounds like squaring the circle. Bergamo, too, is someone who never rests.

Four days before the start of the Tour de Suisse, Q36.5 hosts a short-notice aperitif at its Zurich flagship store. Perhaps no one noticed that the team presentation for the women's race is taking place at the same time. There are snacks and drinks, and rider David de la Cruz presents the alleged miracle shoe. As he speaks, his phone rings: Bergamo is calling. The founder seems to view the team as a test laboratory for his ideas, and the riders are there to answer questions.

The operational boss of Team Q36.5 is not Bergamo or Glasenberg, but Douglas Ryder, a South African. He is driven by a passion to promote African cycling, something he speaks about with enthusiasm and infectious enthusiasm. After years of effort, Ryder brought a team from the continent to the Tour de France for the first time in 2015. This year, however, the 53-year-old has no African riders on his team for the first time.

This wasn't how he imagined it. "It's sad," Ryder said in an interview. The 53-year-old mentioned the points system, which puts constant pressure on smaller teams. He said one has to maintain a balance between overarching visions and economic considerations. In the future, he definitely wants to engage African riders again; "that's my goal, that's my passion." He also pointed out the team's foundation, which enables children in South Africa to ride bicycles.

Ryder's answer to the question of where he sees the team in five years is astonishing. He, who carefully cultivated an underdog image for years, now says: "It would be amazing to win the Tour de France."

British superstar Tom Pidcock has been riding for Q36.5 since this season. Paradoxically, this hasn't brought a victory in the world's biggest race any closer; in fact, it's even become less likely, at least in the short term. Pidcock may be multitalented, having won two Olympic gold medals in mountain biking and triumphed in important one-day races. But he's not a classification rider. At the same time, he ties up enormous resources: Pidcock has brought along a whole team of personal support staff. Even his less talented brother, Joseph Pidcock, who has had to retire most races early, has been signed to a two-year contract.

In May, Tom Pidcock fought for the overall ranking at the Giro d'Italia, but his attempt ended disastrously by his standards, finishing 16th. Targeting individual stages would have been more promising.

"He just wanted to give it a try," says Michael Albasini, sporting director at Q36.5. "Hindsight is always 20/20." Pidcock is the undisputed star, he says, and he can take such liberties. "We're somewhat dependent on him."

The former Swiss national coach openly questions the composition of his team. Albasini says they lack a second or third leader. Pidcock also absorbed some of the next best riders as helpers at the Giro. Now, these are missing in other races like the Tour de Suisse.

The organizers of the Swiss Tour announced Pidcock as one of this year's top riders ahead of the race. However, he took time off. This week, Red Bull instead released a video of the Briton speeding downhill at up to 115 kilometers per hour, ignoring a red light and the world governing body's riding position regulations.

Glasenberg likely played a central role in the Pidcock transfer. "He makes the decisions," says an insider, "Ivan has to open the coffers." Ryder could, of course, make suggestions, but Glasenberg would have to approve them.

The former raw materials manager is also present at the drinks reception in Zurich. He just accompanied the team for seven days at the Giro. The hotels were terrible, he says. He complained to the organizer. Glasenberg is not giving official interviews.

Sources close to Glasenberg say he's working on making cycling more economically viable. He's discussing this with other team owners, whom he believes are on an equal footing. This means, above all, that they're also wealthy. Anyone who knows Glasenberg knows that we'll be hearing more from him.

An article from the « NZZ am Sonntag »