This man is in a bicycle race.
A man competes in a bicycle race.
The man is in a bicycle race so that implies he competes.
exists p1 x1.(n_man(x1) & exists x2 x3.(in(x1,x2) & n_race(x2) & of(x2,x3) & n_bicycle(x3)))
exists e1 x1 x2 x3.(in(e1,x2) & n_race(x2) & of(x2,x3) & n_bicycle(x3) & Actor(e1,x1) & v_compete(e1) & n_man(x1))