I've tried moving the painting around a little bit and I have a hard time getting the cyclist to fit on the back because of the cut of the jersey.

Same problem with the handle bars and part of the wheel for the second cyclist on the front panel. I can tilt the image a little bit which brings forward more of that, but then you end up with the face getting to close to the zipper & I'd worry about it looking warped.

If this gets chosen I'm sure the people at TE will be able to get things spaced just right for you.