'A confirmation of work' - Picnic PostNL boss believes Onley's blockbuster move proves team's transfer model is successful

The 2025-2026 winter transfer window has seen professional cycling enter uncharted financial territory, with Oscar Onley's move from Picnic PostNL to Ineos Grenadiers reportedly setting a new benchmark as the most expensive contract buyout in the sport's history, according to information obtained by Velo.

Though estimates on the figure vary, with Cyclingnews reporting that the fee to bring the 23-year-old Scot, who finished fourth overall at the 2025 Tour de France, was around €6 million. Regardless of the precise figures, it’s clear that it’s another financial triumph for Picnic PostNL, which brought Onley through their trusted development team before the British rider turned professional full-time in 2023. 

For a team like Picnic PostNL, which has reportedly generated roughly €9-10 million in transfer fees over the past decade, per Daniel Benson’s Cycling Substack, it’s another example of the Dutch team’s current model in full flow. 

According to Picnic PostNL team manager Iwan Spekenbrink, the windfall validates his squad's unique business model, one that mirrors many football clubs such as Borussia Dortmund or, in recent Premier League years, Brighton, Bournemouth and Brentford. They sign young talents to long-term contracts, invest heavily in development through their proven program, and structure deals to make early exits financially painful for wealthier rivals.

"What happened with Oscar is not a result of working poorly; it's a result of working well. It's a confirmation of work," Spekenbrink told Cyclingnews and Daniel Benson's Cycling Substack in Calpe. "When you are successful, a lot of riders can do well. It's like in football, when you do a good job, a lot of people are successful, and you have to make choices."

Onley's standout 2025 season made him an irresistible prospect to a team like Ineos, who lack a British GC star following the retirement of Geraint Thomas. Spekenbrink admitted initial frustration when the move came to fruition. "On a personal level, when it happened, I had three or four days of saying 'shit', this is not what we wanted."

The influx will fund reinvestment, with plans for protective buy-out clauses in future contracts, starting with rising star Max Poole. Spekenbrink reiterated his call for UCI-regulated reforms when it comes to transfers. "We need a transfer system like in football... In football, you can change teams, but you have to agree to a transfer fee. Now, too many games are being played in cycling, especially by agents. It's chaos,” said Spekenbrink.

"Whether we like it or not, we need to have a system in place where if you have a contract, then there's also an agreed-upon fee. For that fee, you don't have to even negotiate; you can go. But if the fee isn't paid, the rider has to stay and respect the contract," said Spekenbrink. Here's a further look at how Onley's transfer to Ineos highlights a new business model for teams.