His argument has a central problem in that regard.
The big thing cycling teams offer to sponsors, over and above other sports, is naming rights. But naming rights fundamentally undermine attempts to encourage fans to follow teams and identify with them as they do in other sports. The only partial exceptions tend to be quasi national teams (like Rabobank).
Football clubs, to use the example of the biggest sport, have much stronger identities of their own. They may be sponsored by some washing machine company, but they don't change their name to Whirlpool and fans tend to resent the trend towards naming stadiums after sponsors. Football clubs tend to have a long and stable history, an identity independent of the vagaries of sponsorship and, crucially, a local focus. Cycling teams don't have any of that. People feel attachment to a team representing their city in a way that they will never feel pride in a team representing their favourite brand of GPS gadgets.
The key problem facing cycling teams in establishing a real identity and following is the lack of a reliable and substantial revenue stream outside of sponsorship. Almost all other professional sports have ticket sales as a financial bedrock.