Garmin-Sharp team owner Slipstream Sports announced on Wednesday that Cannondale will become a title sponsor of the American WorldTour squad in 2015.
Naturally, US bike manufacturer Cannondale will replace Cervelo as provider of the team's bicycles. Slipstream also announced that Cannondale will take up an ownership stake in the management organisation.
Contrary to previous reports, GPS device manufacturer Garmin will stay on as a 'significant' sponsor of the team.
Peter Woods, President and CEO of Cannondale owner Dorel said "Cannondale is excited to team up with Slipstream to create the next evolution of Cannondale Pro Cycling with the most progressive and innovative team in the peloton."
"Professional athletes play a key role in testing our products in some of the most extreme conditions worldwide helping us to create the perfect ride for our consumers. We are thrilled about progressing our product development approach while bringing exciting racing to our fans around the world."
It is unclear at present how many of the current Garmin-Sharp and/or Cannondale team riders and personnel will form part of the new and as yet unnamed squad. Key Cannondale riders Peter Sagan and Ivan Basso have already signed to Tinkoff-Saxo for 2015, and Rohan Dennis took a mid-season move to BMC Racing from Garmin-Sharp.
Slipsteam CEO Jonathan Vaughters hinted that new riders were on their way.
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"We will be adding some great talent to an already outstanding roster and we believe the team will build on past successes and will produce very exciting racing in 2015. We look forward to what we can achieve together, both on and off the road,” said Vaughters.
No news has yet been released on the fate of the current Cannondale Pro Cycling team set-up, or who might take on its WorldTour licence.
