football or soccer is different for fans though, its got a far more local identity to its followers that generates their passion for the club, and if you start to mess with that, you normally get big kickback from them
so a US style franchise is like you buy into a club, based in say Oakland, but decide that Oakland doesnt generate enough cash for you, so you relocate the whole setup to Las Vegas, and give the team a different name/identity, youre still in the league because you owned the franchise, but the team you bought no longer exists, and the old Oakland fans tend to be pretty miffed about it.
it would be like if Ineos decided Man Utd should really now be Ineos Utd and relocate to London.
In terms of cycling teams, I dont think its a similar thing, fans really dont support teams because of their location, even if most UK fans would support Ineos because its nominally a British team, but it tends to be riders they follow.