Ineos Grenadiers ice transfer deals as speculation over Evenepoel and mergers persist

Ineos Grenadiers have iced two rider transfers in the last few weeks with both Carlos Verona and Tobias Foss back on the market and being floated to several WorldTour teams.

Both riders were reportedly on their way to Ineos Grenadiers for 2024 but those moves were reversed by the British team according to several sources who have spoken to GCN.

GCN understands that in the case of Verona, who currently rides for Movistar, Ineos began to show interest in the Spanish rider at the start of February, with an agreement - letter of intent - in place later in the spring. However, a contract never materialised with the team pulling out of the move during the Tour de France. Riders cannot officially sign for new teams before the UCI deadline of August 1 but letters of intent are a common formality within the sport.

However, a rival WorldTour boss has told GCN that Verona “has been offered to multiple teams” over the last few weeks.

Foss, the 2022 world time trial champion, was strongly linked to Ineos all through the season, with even Jumbo-Visma bosses believing that the move to the British team was set to take place. The Norwegian was on the market during the spring and being offered at between 1 to 1.5 million Euros before reports of a move to Ineos began to circulate in the press.

However, another WorldTour team boss has told GCN that Foss too has been offered to them for 2024 in the last few weeks. Jumbo-Visma have confirmed that Foss has not been offered back to them by his current agent. Foss’s agent declined to comment when approached by GCN.

© Velo Collection (TDW) / Getty Images

Tobias Foss did not enjoy a splendid year in the time trial rainbow bands

It’s unlikely that either rider will fetch the price tags they were both floated on the market for back in the spring. That’s because most teams have already allocated their budgets towards 2024 signings and have only a limited amount of space on their rosters for next season. The majority of major stars who were available have already extended their current deal or signed with new squads. With Foss and Verona not riding the Vuelta a España in the coming weeks the chances for both riders to demonstrate their talents have already dwindled to a few minor stage races and one-day events at the tail-end of the season and their bargaining positions have been weakened massively.

GCN approached Ineos for comment on the situation around Foss and Verona, and whether the team pulled out of agreements to take both riders. The team declined to comment, with a representative stating: “We won't comment on contract negotiations until we're ready to comment on them.”

While two instances of a team changing their mind on the transfer market doesn’t spell a crisis, it is surprising to note that Ineos is yet to announce a single new signing for 2024 and that only 15 of the current roster have existing deals in place for next season. An exodus of riders has also taken place with Tao Geoghegan Hart, Ben Tulett, Dani Martinez, and Pavel Sivakov all confirmed to be leaving at the end of the year.

GCN can reveal that Ineos declined to make counter offers to at least three of those high-profile departures, including Sivakov and Martinez.

Read more: Tao Geoghegan Hart signs three-year deal with Lidl-Trek

It’s unclear yet as to whether Carlos Rodríguez will stay with the British team either, with interest from Movistar and Bora-Hansgrohe. The Spaniard is out of contract this season and GCN has been told a four-year contract extension has been tabled by Ineos. It had previously been reported that the Grand Tour rider had agreed terms with Movistar but that position has softened since the Tour concluded, and Ineos are apparently keen to keep the Spaniard.

It is expected that several existing Ineos riders will extend their deals, with Laurens De Plus, Geraint Thomas, Luke Rowe, Jonathan Castroviejo, Salvatore Puccio, Brandon Rivera and Omar Fraile all set for new terms. Ben Swift has also told GCN previously that he wants to remain on the team for another two years. Yet it’s still surprising that not a single one of these deals has been announced. Contract extensions can be declared at any point in the season and most teams have already begun to declare such moves. Riders switching to rival teams can be announced from August 1, but again Ineos have been completely silent in that regard too. UAE Team Emirates, Jumbo-Visma and Lidl-Trek have been active in the market, signing up a gaggle of talented riders - including several from Ineos Grenadiers.

For some time there has been a belief that Ineos Grenadiers are not as agile or dynamic in the transfer market as they were under the Sky banner. Potential deals have to go through a lengthy process before they are signed off at the team’s executive committee meetings, and that has potentially allowed other teams to beat Ineos to key transfers. They re-signed Tom Pidcock, for example, with less than 10 months on his old deal in 2022, allowing several other teams to declare interest in signing the all-rounder. Meanwhile, teams like Jumbo-Visma and UAE Team Emirates have repeatedly locked up their key assets with several years remaining on existing deals.

There is also the topic of management structure. While Deputy Team Principal Rod Ellingworth maintains control over the day-to-day squad and team operations, it’s still Dave Brailsford who has the main say on rider transfers, with La Gazzetta dello Sport last week reporting that the Team Principal was taking back more responsibility as the team searches for their next Grand Tour winner. Brailsford stepped back from the cycling team in recent years and is a major player in Ineos’ potential buy-out of Manchester United. However, according to several sources, it was Brailsford who decided to pause the recent transfer activity, with Ellingworth left to explain the news to those involved. Brailsford has been integral in the contract discussions over Rodriguez.

The persistent rumours surrounding a move for Remco Evenepoel, and the potential buy-outs and mergers with his Soudal Quick-Step team continue to make headlines but at this point, it’s unclear in which direction Ineos Grenadiers are travelling.

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There’s no doubt that Ineos is still a WorldTour power. They may not have won a Tour de France since 2019 but they have invested heavily in the likes of Pidcock, Luke Plapp and several other young talents.

However, the team’s summer actively does raise key questions. Are they clearing the decks for a huge deal involving Evenepoel and possibly several other Soudal Quick-Step riders or are they slowly re-evaluating their transfer policies and reluctantly allowing WorldTour superpowers to pull even further ahead of them? At this point, the Ineos Grenadiers team appears to be stuck in neutral and it’s unclear who exactly is behind the wheel.

The British team will head to the Vuelta a España hoping to at least make the podium with Geraint Thomas. Click here to check out our analysis of the Ineos Grenadiers lineup, whilst our Vuelta a España landing page has everything you need, from our full preview to the start list and individual stage previews.