Lance Armstrong will reveal the plans for comeback to professional cycling at a press conference in New York due to start at 5pm (UK time) today.

The 37-year-old will speak at the Clinton Global Initiative, a think-tank, campaign and action set up by former US president Bill Clinton to find solutions to some of the world’s most difficult problems.

Armstrong will talk about the work of his cancer charity, the Lance Armstrong Foundation, and how he hopes his comeback to the sport after three-and-a-half years in retirement can help fight the disease.

For cycling fans the key questions will be: Which team is he riding for? What races will he ride? And will he sign up for an independent anti-doping programme?

Rumours in the US press say he will reunite with his former US Postal and Discovery Channel manager Johan Bruyneel to join the Astana team ? although riding for a Kazakh team may present certain public relations problems for his fans back home.

Those rumours seemed to be confirmed when the deputy president of the Kazakh cycling federation, Nikolai Proskurin, told a news agency that Armstrong would join Astana.

If he does join Astana it will be nothing less than a hostile takeover. Will it force Alberto Contador and Levi Leipheimer to look elsewhere? Will the Livestrong and Nike branding take over the squad’s look? It’s hard to imagine the Texan riding around in a jersey that is effectively a Kazakhstan flag.

However, until Armstrong himself says he is joining Astana, nothing is certain.

Other rumours suggest he will revive Tailwind Sports, the company which owned and ran US Postal Service and Discovery Channel, and form a new team. The obstacle against him would be the lack of time to assemble a top class squad and back-up unit.

And it’s impossible to rule out a compromise: Armstrong signs for Astana but the team has special dispensation to ride in Livestrong/Nike jerseys under a different name when the American is racing.

Armstrong will also reveal his racing plans, although he has already said he wants to take his cancer-fighting message all over the world, not simply concentrate on winning an eighth Tour de France. It seems likely he will make his comeback at the Tour Down Under in Australia in January.

The press conference will be attended by Clinton and the Mayor of New York and starts at 5pm (UK time) on Wednesday.

On Thursday Armstrong is set to make an appearance at the Las Vegas bike show.

Earlier today it was revealed that Armstrong will make his professional cycling comeback at the Tour Down Under in January.

Check Cycling Weekly for all the latest news and reaction following Armstrong’s announcement