From the Economist:

TRADITIONALLY, business associates would get to know each other over a round of golf. But road cycling is fast catching up as the preferred way of networking for the modern professional. A growing number of corporate-sponsored charity bike rides and city cycle clubs are providing an ideal opportunity to talk shop with like-minded colleagues and clients while discussing different bike frames and tricky headwinds. Many believe cycling is better than golf for building lasting working relationships, or landing a new job, because it is less competitive.

Oh, biking is definitely competitive, but not as directly competitive. Anyway, call this one wishful thinking on my part – I would rather ride than golf any day. Then again I have only ridden once in a business context, and it blew away every other team building/networking/whatever exercise in my entire professional history.