Want to clinch a top business deal? Clinchers are the thing: road bike tyres, that is. Truly, cycling is the new golf.

Third biggest business deal in history was done from a bicycle

Proving that cycling is the new golf for the world’s busiest, richest executives, it has been revealed that yesterday’s deal between phone companies Vodafone and Verizon was clinched from the saddles of exercise bikes in a top American hotel.

However, CEOs Vittorio Colao of Britain-based Vodafone and Lowell McAdam of America-based Verizon don’t just spin indoors, they also ride together outside. Reuters said that McAdam and Colao share a "passion for cycling that saw them once do a 50km (30 miles) race together."

Colao lists cycling and football as his main hobbies and cycles in his native Italy, riding Alpine passes but always with his phone turned on ready to do business. He also cycles in London, his base since taking over at the helm of Vodafone in 2008.

Those who say cyclists are "tax dodgers" are wrong when it comes to contributions to roads but they would be slightly more accurate if they shouted the phrase at Colao as he cycled in one of London’s parks: Vodafone is famously accused of paying very little UK corporation tax.

Yesterday’s offloading of Verizon will lead to a multi-billion pound windfall for Vodafone, some of which will land in Colao’s lap. What’s he going to do with it?

Buy a new road bike, of course.

"Vodafone boss tells me he might buy a bike with his share windfall," tweeted ITV’s Laura Kuenssberg.

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