You can learn from this case study by thinking about the huge challenges - like doping - and the big opportunities in cycling: relatively inexpensive to sponsor, high level of participation - many people who watch pro cycling ride a bike seriously themselves.
The owner of the Tour de France, Amaury Sports Organisation, shares none of the TV broadcast rights fees with the teams. Teams derive about 95% of their revenue from sponsorship.
As you read, think of the Five ROI Factors and see which ones are addressed. Then think of your own property if you're a rights holder, or your own projects if you're a sponsor - what can you learn from the business model of cycling?