New to PS - basic question on making a transparent background

Hi all, 

Thank you for checking in on my post and a newbie here. Only started looking at photoshop yesterday so my question might seem basic. 

What i am trying to achieve is to remove the white background and have a transparent background. When I use the magic wand, I does not select my intended object which is the cyclist and the dots around the cyclist. Instead, the magic wand will select the entire picture. I have been playing around with it and decided to reach out for help. 

Thank you for your assistance and greatly appreciate it.