Exemplary embodiments are directed to a pedal for a bicycle that includes a body, a spindle secured to the body and for connection to the bicycle, a first magnetic platter, and a second magnetic platter overlaying the first magnetic platter. The first and second magnetic platters each include a plurality of blocks formed of a material that can be magnetized, and a plurality of permanent magnet plates arranged so as to magnetize the blocks with either a magnetic north or magnetic south polarity with adjacent blocks being magnetized with opposite magnetic polarities. The second magnetic platter is movable with respect to the first magnetic platter by a ferrous metal cleat between a first position where the pedal is in a magnetically inactive state and a second position where the pedal is in a magnetically active state magnetically securing the cleat to the second magnetic platter.