It’s wild to think some teams “expect to make a loss” during the Tour, yet clearly make up for it in sponsor strategy and long-term branding. That Red Bull helmet detail with Wout van Aart was a smart example of how teams are evolving beyond traditional funding models. I hadn’t fully appreciated just how much ROI sponsors get from a single televised event — $100M in exposure is no joke. Professional cycling really is a business with pedals.