Another year, another round of contract renewals. Anytime a team projected to fight relegation ends up in the top 5, it's usually in part due to career years from unexpected riders. Those riders then, understandably, expect to be compensated according to their production, not projections. Carlsberg is no different. Having defied the odds to finish 5th in the Pro Tour last season, they had a tricky renewals season ahead of them. How did they fare?
As always, we start with those riders who have been released from their contracts. There is one big announcement this year, which will be difficult for all Carlsberg fans to hear: Asbjorn Kragh Andersen has not been renewed. We will have much more on him once his situation for next year is finalized, but for now, it's safe to say this is a huge loss. AKA was the last remaining rider from Carlsberg's original 2014 team, and he capped off his team career with two stage wins in the Vuelta a Espana last year. He has given this team everything at every level, but he has nothing left to give.
It is the team's understanding that he intends to retire from full time racing as a Carlsberg lifer, but the reality is that another team could bid on him despite his diminished state. If that happens, Carlsberg will of course be compelled to prevent him from riding in another jersey as a show of loyalty. Perhaps the most appealing solution would be for AKA to finish his career as a veteran mentor on a hypothetical Carlsberg development team—if the team were granted one. But we really shouldn't speculate on that possibility now.
Veteran domestiques Michael Gogl and Irakli Bablidze, and stagiaire Magnus Waehre, were also released.
The story of Carlsberg's renewals is pretty clear. Those who were previously on inexpensive contracts and underperformed those contracts, got raises. Elsewhere, there were solid cuts.
Matthias Skjelmose Jensen gets the biggest raise by far, up 67,000 from last year. His surprise top 5 in the TDF, and his stint in yellow, were huge for Carlsberg's top 5 in the PT standings. But that performance was going to need to be rewarded, and Carlsberg couldn't risk letting their crown jewel walk for free agency, so he'll make 277,000 this year. The team hopes that with what they plan to invest in him this offseason, it will ultimately still be a good wage value for his skills.
Similar story for Jonas Gregaard, who put up over 500 points last year on a five-figure wage. He's turning 30 this year, and he wasn't going to miss out on his best chance for a payday. He'll make over 40,000 more in 2026, and the team will hope his 2025 wasn't entirely a fluke. Same thing for Alex Aranburu, who finally gets a pay raise justified by his results rather than his potential, to 340,000, after a great Vuelta.
On the other hand, Carlsberg ended up with some good deals too. Hugh Carthy came back down to earth last year after his 2024 GT heroics, and so did his salary, down almost 100,000. Frederik Rodenberg's inflated salary was drastically reduced as well. Even David Per took a paycut for the third straight year. He'll make 575,000 in 2026 after signing his famous 1,000,000 free agent deal in 2023.
Carlsberg also managed to save a lot on talents, whose free agency contracts had greatly overstated their current abilities. Simon Dalby is still making an insane 152,000, but it's a lot better than last year. Lund Andresen is actually on a really good contract for a secondary sprinter of his caliber now, and Askey is now all the way down to the minimum despite his skill increase, as is Wang.
Further down the line, the mid-range domestiques like Menten and Norsgaard were willing to take meaningful cuts, while the lower end domestiques fought for every last penny and wanted their depth contributions rewarded. Of course, Skivild's increase is due to his development, but for Krigbaum, it was another year of feisty negotiations. The team decided not to repeat his chaotic trip to free agency from a couple of years ago and just meet him in the middle, as he is too useful across multiple terrains.
All told, that leaves Carlsberg with 24 riders and € 379,000 in cap space to work with. They have several level 3 riders who could find loans elsewhere if desired, but don't necessarily need to. The loss of AKA as a co-lead sprinter is palpable for the scoring outlook, but no other significant contributors have declined or been released. This offseason could be a chance to add a piece or two and run it back, or it could be a time to cash in on some assets and retool.
But let's not get ahead of ourselves. First, let's see what team manager baseballlover312 had to see about the renewals.
"There are obviously a few pretty tough numbers for us coming out of renewals, but ultimately, what can you do? These are our guys. They took us to top 5 in the PT from nothing. We didn't meet anyone's demands and still found everyone somewhere in the middle, but for some guys, it was always going to take more than we hoped after the results they put up last year. For the rest, we feel like we got fair deals that will create space for what we're trying to do next. Our squad is largely intact from last year, and while we can't expect to repeat that top 5, we're hoping that with a few additions, we should be pretty safe from relegation. But easier said than done.
Oh, and I'll talk about AKA later. I can't really bring that one to words yet."
We'll be eager to see what Carlsberg are trying to do next when we provide our yearly availability projections. Stay tuned!
How can Per be on 575k? You're already in a good position pre-transfers, I'm curious what you have planned!
Per's always been a team player. After 3 years, I finally think he's in about the right wage bracket for his abilities. Unfortunately the competition is younger and mounting around him. Can't count on next year being like the last 3!
Renewals looking good. The few rises are very understandable and some good cuts in between.
Yeah, I probably overpaid Skjelmose a bit in the end, but I wasn't gonna risk losing him in the third round. It's tough with the guys who vastly overperformed and don't have many comparables to gauge their demands against. I knew him, Gregaard, and Aranburu were likely gonna get raises after overperforming, so I can't be too bothered by it even if I'd have preferred to save more. Happy with some of my cuts down the roster.
Agree with comment that you're in a great spot to build on last year's success with those renewals!
Thank you! We have some space left to work, but not a ton to go crazy. Really can't decide what direction to go. If I had a true talent top 5 team last year with this wage cap, I would definitely go all in, but I don't think I did. So I have to be measured and consider all directions.
AKA about to regret his decision and rejoin the team during transfers?
Let's just say it's a tough situation. I would be happy to see AKA retire and ride off into the sunset. But he's right on the cusp where that 78 sprint stat still might appeal to someone despite the abysmal backups. And if that were to happen, I would probably be compelled to prevent him from riding in someone else's jersey after spending his whole career with us. So, that's where I'm at right now.
Ideally, I'd get a dev team and he would be the veteran leader. But a lot of ways he's signed before that.
RIP Exxon Duke, David Veilleux, Double Feature, and Monster Energy
Attention all PCT and CT managers! We are interesting in sponsoring a dev team together! Hit us up on here or on Discord if you have any interest.
The obvious fit is to build a Scandinavian team, which would be fun, but personally I think it could also make sense to have the team cater to two different regions (less fights over eventual contract rights that way too). In either case, let me know if you want to join up!
RIP Exxon Duke, David Veilleux, Double Feature, and Monster Energy
Think I just agree with the others, good job handling renewals after a great season and the good times should keep on rolling. Amazing high-quality and still heavily regionally focused squad you've built.
AKA truly the end of an era if he doesn't return. One of the great one-club men of my time in MG and what a way to finish his career at La Vuelta, one of my favourite moments of the season. Him as a possible Dev team mentor would be perfect if it can happen - may Heine-level shame rain down on anyone who would stop such a thing
24/02/21 - kandesbunzler said “I don't drink famous people."
15/08/22 - SotD said "Your [jandal's] humour is overrated"
11/06/24 - knockout said "Winning is fine I guess. Truth be told this felt completely unimportant." [PT] Xero Racing
Think I just agree with the others, good job handling renewals after a great season and the good times should keep on rolling. Amazing high-quality and still heavily regionally focused squad you've built.
AKA truly the end of an era if he doesn't return. One of the great one-club men of my time in MG and what a way to finish his career at La Vuelta, one of my favourite moments of the season. Him as a possible Dev team mentor would be perfect if it can happen - may Heine-level shame rain down on anyone who would stop such a thing
I really can't stand that thought of AKA in another jersey.
Hope everyone has some mercy in considering whether you really need a 72 acceleration, 65 stamina pure sprinter on your team.
RIP Exxon Duke, David Veilleux, Double Feature, and Monster Energy
Transfers are on the way! Carlsberg made it through renewals with most of their roster intact, but will that remain the case after two weeks of chaos, promise, and glory? Our analysts have made their predictions for who is most likely to stay and leave the team this season. As always, this list is not determinative of whether a rider will actually be transferred. Rather, it displays the likelihood of a sale given a market value offer. Context will be determinative of where the chips actually fall.
First
Last
Availability
David
Per
Unlikely
Alex
Aranburu
Maybe
Hugh
Carthy
Likely
Mattias
Skjelmose Jensen
No
Frederik
Rodenberg
Unlikely
Lukas
Meiler
Likely
Jonas
Gregaard
Unlikely
Niklas
Eg
Unlikely
Gyasi
Sulvaran
Maybe
Milan
Menten
Unlikely
Mathias
Norsgaard
Unlikely
Erik Nordsaeter
Resell
Maybe
Asbjorn
Hellemose
Unlikely
Robin Juel
Skivild
Unlikely
Hugo
Forssell
Maybe
Tobias
Lund Andresen
No
Lewis
Askey
Unlikely
Tilen
Finkst
Maybe
Goldwijnn
Cannister
No
Mathias
Krigbaum
Unlikely
Simon
Dalby
Maybe
Gustav
Wang
Unlikely
Carl-Frederik
Bevort
Unlikely
Jeremias
Arenas Rodriguez
Maybe
Carlsberg have a solid core, and you may notice that availabilities are a little more conservative then usual. Still, a few of their leaders are getting older, which may lead to some more turnover than absolutely necessary. No riders are really guaranteed to leave this year, as Carlsberg is comfortable in their roster (subject to a few additions), but that doesn't mean they will be complacent as opportunities arrive.
Hugh Carthy is on a much better wage this year and has strong bounceback potential, particularly in a year where ITT's have almost disappeared from the calendar. But the continued of ascension of Skjelmose could mean that he leaves for good value since he won't be needed to carry the team's primary GC ambitions anymore.
With respect to the cobblers, the development of Lewis Askey in the offseason mean that there is a very strong likelihood one of the team's several superdomestiques leaves—the question is, who? At this point, it looks like the Lukas Meiler is the most likely, as he has the most potential to lead on his own in any division and therefore can get the most value for Skjelmose's training fund.
Alex Aranburu is the other leader who could leave. The team is obviously not eager to sell him after years of investment finally paid off with a very strong 2025 season. They feel comfortable that he can come close to that again with favorable planning. However, he could probably do even better with a PCT schedule tailored to his strengths, so the team is open to moving him for the right offer.
Down the line, several domestiques could move, but only for the right offer. It would be surprising to see any of Carlsberg's young Danish core leave, although recent developments in the MGUCI's permissible training techniques mean that the team's young talents don't project to have the same roles they were originally signed for, which could make them more available than usual.
In terms of loans, there are no riders on Carlsberg's team that absolutely need a loan right now, but all of Dalby, Wang, Bevort, and Arenas Rodrigues could do with the a PCT loan if it makes sense to do so with wages and fees.
The team has had success bringing in young riders on loan to round out their classics squads over the past, so that could be an option too.
David Per has been the face of Carlsberg since he signed a team record $1 million contract for the team's debut PT season in 2023. He has crossed the 1,000 point mark with ease each year, and his relationship with management and his fellow riders has never been questioned. He's been a fearless leader who seemed destined to spend the rest of his career in Carlsberg green. But all that ended last Monday morning when team manager baseballlover312 received a call from Carlsberg's Director of Marketing.
DIRECTOR: The idea of Pedersen in PCT is really something. But I've heard that's not set in stone. He might be available on the transfer market.
BBL: I know. Hoping he stays down there so he won't be competing against us as much.
DIRECTOR: If Mads Pedersen is leaving Grieg, he's not going to be competing against us.
BBL: What are you saying?
DIRECTOR: You know what I'm saying.
BBL: But sir, David...
DIRECTOR: No buts. Get it done.
The implication was obvious. The sponsors wanted to finally say that Carlsberg - Danske Bank was the center of Danish cycling, no questions about it. And there was only one way to do that. But then what would become of David Per? He had become the face of the franchise. He had been untouchable in transfer talks. And suddenly, he was the odd man out.
Management sent Per an ominous text in a good faith effort to keep him informed. "Your name's came up in talk this year. We'll keep you in the loop." But 30 minutes later, before Per could even gather himself to respond, it was done. Per was being traded for Pedersen. No cash, no other riders, no caveats. One for one. Give me your best, and I'll give you mine. Same age, same discipline, same goals.
The problem, of course—the duplicity of Per and Pedersen—was also the solution. Some success in renewals had left Carlsberg with wage cap to spare and a desire to sure up their team without structural changes. Pedersen offered a higher floor in terms of scoring and, more importantly, the physical outlook for a bit more graceful of a decline in 2 or 3 years' time. On the other side, Grieg had relegated and was dealing with a constrained cap space. Per offered the opportunity to dominate the PCT division just like Mads would, but on a more manageable wage.
At the end of the day, the analytics didn't matter. The sponsors demanded it, and it was done. And so David Per rides for Grieg, and Mads Pedersen for Carlsberg.
Instantly, the cycling world was startled. Current and former teammates, other managers, and commentators all began to weigh in privately and publicly, showing their support for the riders' traded and confusion at the deal. Carlsberg is a team know for loyalty, for signing riders long term and limiting its turnover year to year. To trade their absolute captain, the man who had almost single handedly established them in PT, was impossible to believe.
From Per, only a cryptic tweet: "You think you know who you can trust. You're wrong." We reached out to Per for further comment, but have not received a response.
On the other hand, we got in touch with Carlsberg manager baseballlover312 for his thoughts:
"I don't have enough good things to say about David. I know nobody wants to hear this right now, but this is in incredibly difficult time for me too. David has been our guy. He's worked with us to improve the team, to mentor our young guys, and to show the world that Carlsberg belongs at the PT level. We have so much to thank him for.
And so this was an extremely difficult decision for us, and there were a lot of factors at play. But ultimately, we had the second best classics rider in the world, and we traded him for the best. It's hard to say no to that deal when the #1 guy is the crown jewel of cycling in your sponsors' country. We're so excited to have Mads on board and do everything we can to put him in a position to dominate the Pro Tour this season.
As for David, he'll always have a home here. I know it's tough for him now, but he's been through similar things before, when Isostar folded. He lost everything then, but found a new home. He will again now. A guy like him always can."
We'll be back with our normal transfers round-up content soon. But for now, we'll leave you with this. You decide.
Nat.
Name
FL
MO
MM
HI
TT
ST
RS
RC
CB
SP
AC
FG
DH
PR
Age
Wage
Pot
Pedersen
77
65
67
69
69
78
80
77
83
78
77
75
71
69
31
820000
7
Per
79
68
69
70
72
74
75
71
82
74
74
68
72
71
31
575000
5
Mr. Pickles
Sporting News
RIP Exxon Duke, David Veilleux, Double Feature, and Monster Energy
An absolute blockbuster trade, can't wait to follow both of their futures in this new arrangement. Very interesting, and I'm sure both riders will have some extra motivation to prove their old managers wrong!
24/02/21 - kandesbunzler said “I don't drink famous people."
15/08/22 - SotD said "Your [jandal's] humour is overrated"
11/06/24 - knockout said "Winning is fine I guess. Truth be told this felt completely unimportant." [PT] Xero Racing
“...the secret of the Great Stories is that they have no secrets. The Great Stories are the ones you have heard and want to hear again. The ones you can enter anywhere and inhabit comfortably."
A. Roy
I just hope Per proves me wrong most in C1 and HC races! Will definitely be weird to read the reports with him as a rival.
@Abhi
I thought so too! Though expected it to be next year or the year after. Unfortunately there was only one rider that could replace him ahead of that timeline. Hope Pedersen will be the perfect replacement, although with all the training happening on cobbles, both of them will have to defend against the next generation!
@imladrik
It would have been a waste to do a deal like that and not write about the drama. I'm excited for your reports too!
RIP Exxon Duke, David Veilleux, Double Feature, and Monster Energy
In terms of quantity, Carlsberg's transfer season saw relatively few sales. Only three riders who made it through renewals ended up leaving the team. And yet, in terms of quality, it might be the biggest slaughter of Carlsberg's history, with two leaders and a top superdomestique all leaving the team. Management will hope these sacrifices were worth it, of course, but they will be felt.
David Per | Cobbles | 2023-2025
David Per signed a $1 million contract in 2023 and never looked back. While he came to Carlsberg having already won Paris - Roubaix, it's clear that he took the next step in Carlsberg green. After an offseason that many thought had doomed Carlsberg to relegation, Per basically single handedly saved them from relegation by establishing himself as a consistent top 3 classics rider with Mads Pedersen and Lukas Wisniowski. The next season went even better with the latter rider's decline, as Per crossed the 1600 point threshold and featured in the top 10 of the sport. Another top 10 year followed in 2025 despite supposed threats from younger riders. In his three years at Carlsberg, Per tallied well over 4,000 points.
With all those accolades, and with his salary at an all time low, Per looked poised to remain Carlsberg's undisputed leader for another season. He was not considered for sale and several inquiries were rejected. But eventually, he did leave. We've already covered the swap that sent him out, but it remains to be seen whether Mads Pedersen can offer the same value. While Per's outlook for his age 33-35 years may be worse than Pedersen's, it is still tough to stomach that he will not get to ride the latter portion of his career with Carlsberg, where he became, and will remain, a legend.
Hugh Carthy | Climber | 2024-2025
Carlsberg took a big swing in acquiring Carthy from cycleYorkshire in the 2024 offseason, paying 1.75 million to grab him when he wasn't really for sale. The move was questionable, but immediately paid dividends. At the 2024 Giro d'Italia, Carthy was consistent throughout, but truly made his mark with a daring breakaway on stage 19 that saw him take the stage win and led him to both 2nd overall and the KOM jersey. Another top 10 at the Tour de France left him with a shocking 1000 point season that allowed Carlsberg to stay true midtable.
In 2025, the team sought to replicate this magic by again having Carthy ride two GTs, hoping for another big breakaway move. This time, he didn't quite strike magic, instead playing it passive and having relatively unremarkable results. His middling performance saw him score under half his previous total, though other riders picked up the slack.
With the ascent of Skjelmose, Carthy was no longer the team's top GC leader heading into his age 32 season in 2026. So, while he was not shopped aggressively, the team was open to offers, and they got one they liked. In the end, he left for the same fee for which he arrived—1.75 million. He goes to MOL, where he'll be the foil to Merhawi Kudus and can ride with a little less pressure.
Lukas Meiler | Cobbles | 2024-2025
Some might view Lukas Meiler as an afterthought in the Lennard Kamna trade, but not so! The negotiations to include him over lesser domestiques were arduous. Meiler was acquired in that deal to serve as Per's right hand man due to his versatility, and he did so phenomenally in 2024, pulling Per to success while scoring nearly 300 points on his own thanks to results like 2nd in the Battenkill. While his 2025 was less impressive, he remained a vital domestique for Per.
The signing of Milen Menten last year and the development of Lewis Askey this year made Meiler a bit redundant in Carlsberg's cobbles squad. He leaves in a swap involving Daan Olivier. He'll get a good opportunity to lead there with Florian Vermeersch out on loan.
As always, we asked baseballover312 for his thoughts:
"I've already spoken on David, but Hugh and Lukas were big pieces for us too. While both sides eventually agreed that Meiler deserved a chance to ride for himself, we certainly planned to keep Carthy on board, particularly with almost every ITT being removed from the PT stage race calendar this year. But an opportunity came along at value we liked, and we had to think about where those funds could be reinvested. I don't know if we pulled it off, but he will be missed either way."
Arrivals next!
Mr. Pickles
Sporting News
RIP Exxon Duke, David Veilleux, Double Feature, and Monster Energy
I had a gut feeling pre-transfers this P(ed)er(sen) swap could happen as it just fitted both your needs and possibilities regarding wages and the nationality fit, but it's still a huge deal!
With three big riders out, who came back the other way? We'll cover talents in the next episode, but first let's discuss the new arrivals that might hope to actually score this year.
Mads Pedersen | $820,000 | Cobbles
FL
MO
MM
HI
TT
ST
RS
RC
CB
SP
AC
FG
DH
PR
77
65
67
69
69
78
80
77
83
78
77
75
71
69
Enough has been said about Mads Pedersen already in the context of the Per swap, but in case you forgot, he's the best at what he does. He was 3rd overall in PT last season, and 4th overall the year before. His wage is significantly higher than Per's, and so the expectations will be at their absolute limit in terms of scoring. He will hope to dominate the PT cobbles and be a leader in the flat classics as well.
Soren Kragh Andersen | $150,000 | Fighter
FL
MO
MM
HI
TT
ST
RS
RC
CB
SP
AC
FG
DH
PR
81
63
64
65
70
77
78
72
65
76
74
72
71
83
SKA has long been a been a rider Carlsberg longed to have on their squad. This is actually a bit of a long awaited homecoming, as he rode for the team on like in his 2016 neopro season. But the circumstances for a permanent transfer never worked out until the final days of the 2026 transfer season, when Aker suddenly needed cash to fund the purchase of Isaac De Toro. SKA is the best prologue specialist in the world, a role that has allowed him to punch well above his salary in previous years in terms of scoring. In a somewhat down season for him last year, he still scored over 500 points. His goal will be to continue that prologue dominance and also score some results in the flat classics, where he will co-lead with Mads.
Daan Olivier | $184,000 | Climber
FL
MO
MM
HI
TT
ST
RS
RC
CB
SP
AC
FG
DH
PR
70
79
77
74
67
73
77
72
57
62
68
68
69
67
After selling Carthy, Carlsberg needed another climber to pair with Skjelmose. Olivier was not the first choice, due in part to his age and in part his ability, but he was the choice that made sense for the price. He joins from Xero in the swap for Lukas Meiler. While he won't replace Carthy's floor in terms of scoring, the team likes his skillset for GT breakaways and hope to see him active enough in that setting to at least soak up minor points where Skjelmose cannot.
Sven Erik Bystrom | $50,000 | Puncheur
FL
MO
MM
HI
TT
ST
RS
RC
CB
SP
AC
FG
DH
PR
70
66
72
77
59
72
69
64
54
66
73
76
71
59
Bystrom is another rider well past his peak. He joins on a minimum wage deal as the final rider added to Carlsberg's squad. He's a veteran helper for the hills, as Alex Aranburu was otherwise expecting to fend for himself this year.
It's also worth noting that Asbjorn Kragh Andersen rejoined the team in free agency. While he originally hoped to be a veteran mentor for Carlsberg's development team, both he and the team decided it wasn't worth the risk that he would be chosen in the CT draft and be forced to ride with a different team. So, he returns for the chance to ride a final season with his brother! The two did not overlap in 2016 because he was loaned out to PT when SKA was loaned in, so it will be a first!
Team manager baseballlover312 had this to say:
"I wish we could have done more this transfers season. Like every team, we went in trying to get younger and better. Looking at who we ended up bringing in, talents aside, we made lateral moves at best in both those respects, ultimately bringing in more older riders than we hoped in an effort to ease costs for our other budgetary needs. Nevertheless, we're excited by the riders we have. We've long admired SKA who should be a reliable scorer this season. We also note that even Olivier's diminished abilities uphill are very similar to Skjelmose's last year, when he had plenty of success. So there's hope there, but it does feel like we made a couple of missteps, more more accurately, were too slow in making the moves we would have preferred.
While Carlsberg's new additions featured here are old, there's plenty of youth coming in our next panel on talents!
Mr. Pickles
Sporting News
RIP Exxon Duke, David Veilleux, Double Feature, and Monster Energy
Asbjorn Kragh Andersen has not been renewed. We will have much more on him once his situation for next year is finalized, but for now, it's safe to say this is a huge loss. AKA was the last remaining rider from Carlsberg's original 2014 team, and he capped off his team career with two stage wins in the Vuelta a Espana last year. He has given this team everything at every level, but he has nothing left to give.
Michael Gogl and 
Irakli Bablidze, and stagiaire 
Magnus Waehre, were also released.
David
Hugh
Alex
Lukas
Milan
Gyasi
Hugo
Oh well, time to bug someone else next season!
Daan Olivier 
