It's been quite noticeable in the past few weeks/months how more and more cross sections of the sport are in favour of a budget cap. You still have the richest teams and (most) agents against it, but it's becoming accepted that cycling is sleepwalking towards only having 12-14 WT teams.

It's important to note that an IPT spokesperson told me just three weeks ago: "Regarding Sylvan [Adams], at this point in time, there are no changes to his ownership or funding of the team." So, in theory, the team still has enough money to continue in 2026. But will Adams continue to do so?

One team manager sent me a message in September. "I think this winter will be a bloodbath for a lot of teams." It's turning out to be true. Arkéa is folding; Lotto and Intermarché merger is still in doubt; Jayco missed its initial bank guarantee; Alpecin not replaced Deceuninck; and now IPT.

I wouldn't be so hasty 😅 let's see what the outcome of the meeting is. It could be positive - the team are signalling optimism.

I believe, but not confirmed, that Ryan didn't provide the wage bill bank guarantee. Sponsorship deals with Giant and AlUla were forthcoming.