The one question I do have is how to take action shots in low light outside?
As mentioned earlier, jack the ISO higher, which in turn allows you to raise the shutter speed to the minimum 1/250th of a second you need for stopping sport photography.
Modest variant . . . . . you will probably find you would need a slower shutter speed, say 1/125th of a second, if the action is coming directly towards you versus a minimum of 1/250th of a second to stop action that is parallel to you.
Also, consider "panning" in low light to take advantage of the poor conditions and get a somewhat unique shot . . . . . you'd have an excellent situation at your bike race for that. An example of panning below, background in motion, foreground subject stopped. You can see the possibility here with a cyclist going by . . .
Rick C
www.goldentales.ca