Biniam Girmay has reached a deal with Intermarché-Wanty to terminate his contract, with the Eritrean sprinter widely expected to sign a contract with the NSN Cycling Team, the new organisation and team name of the troubled Israel-Premier Tech squad.
Girmay was under contract with Intermarché-Wanty until 2028, but their complex merger process with the Lotto team has led to a deal for Girmay to terminate his contract early. It is unclear if Girmay paid a fee to break his contract or if the UCI regulations prevailed and deemed him a free agent after the Intermarché-Wanty team management failed to register for 2026.
"It's been an incredible journey for me with Intermarché-Wanty," Girmay said when the team confirmed the agreement. "I'm still grateful for the confidence they showed in me five years ago and for the opportunity I was given to become a World Tour rider."
"Sometimes you have to embrace change. It's time for a new chapter, and I want to thank everyone at Intermarché-Wanty for the past five seasons."
Girmay's agent Alex Carera had first indicated that his "future was clear" three months ago, without specifying his future team, with XDS-Astana also reportedly interested in signing the 2024 Tour de France green jersey winner.
It also seemed possible that Girmay could stay with Intermarché and become a joint leader of the new Lotto-Intermarché team alongside Arnaud De Lie. However, budget concerns arose as the final UCI team registration deadline of November 1 neared, forcing the new team to cut riders and staff to respect their limited 2026 budget. The team reportedly tried to use Belgian employment law to their advantage and this only slowed the merger further, impacting the wider rider transfer market.
The UCI will only confirm the teams registered for the 2026 season on December 10, with Lotto-Intermarché likely to finalise their plans and reveal their roster just before then.
Girmay's success as a sprinter and Classics rider probably meant he had several offers when news of the Lotto-Intermarché merger first came to light during the Tour de France. Israel-Premier Tech were expected to change their roster even before Pro-Palestinian protests targeted the team and protests rocked the Vuelta a España, with Chris Froome's contract ending and Derek Gee locked in a legal battle to terminate his contract.
In early October, the team said owner and backer Sylvan Adams would step back from his day-to-day involvement but Premier Tech and bike sponsor Factor ended their sponsorships regardless.
Last week, the team announced that sports and entertainment company Never Say Never (NSN) and global investment platform Stoneweg had entered into "a joint venture" to take over the team structure under a Swiss licence for 2026.
Stoneweg and Icona Capital appeared as minor sponsors on the Israel-Premier Tech jersey at this year's Tour de France, with Stoneweg described as having a "longstanding relationship" with the team. Stoneweg and Icona Capital merged in March of this year to create SWI Group, which claims to manage more than €10 billion of assets in alternative investments, such as real estate, housing, logistics, digital infrastructure and private equity.
SWI Group recently created a Sports and Entertainment division and created a Strategic Advisory Board to consider a number of potential commercial initiatives. It is led by Ferrari Formula 1 team principal Frédéric Vasseur, F1 driver Charles Leclerc, and Andrés Iniesta, the former Barcelona and Spanish footballer, who is a co-founder of NSN.
NSN and Stoneweg formalised a strategic alliance to take over and manage the Israel-Premier Tech team, with Stoneweg becoming an NSN shareholder. The team is now called NSN Cycling Team, with Stoneweg and SWI Group likely providing much of the budget to run the team.
The NSN Cycling Team is expected to secure a place in the WorldTour-level in 2026, after the Israel-Premier Tech riders scored enough UCI ranking points to earn promotion in the last three-year cycle. The riders and staff have travelled to Spain for a training camp, wearing unmarked clothing provided by sponsor Ekoi rather than their 2025 Israel-Premier Tech kit.
According to Escape Collective, Adams has been seen at the camp.
"Sylvan is at the camp for some days to ride with other guests and finalise the transition with NSN and Stoneweg," a NSN spokesperson told Escape Collective.
The team has still to confirm if Derek Gee will be part of the team in 2026 but Girmay is expected to sign his contract later this week when he arrives in Europe, ending confusion about his future and giving NSN Cycling Team a new team leader.
