Team Sky have announced their new sponsor Ineos, which will take over the team from the start of May.
Rumours have been circulating for a few weeks about who would take over the British WorldTour outfit as Sky pulls out.
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The answer, the team revealed on Tuesday (March 19), is Britain’s richest man Sir Jim Ratcliffe.
Sir Jim is the chairman and chief executive of Ineos, a chemical company based in London.
As ever with Team Sky news, the announcement has sparked a strong reaction online.
There has been plenty of support for the team, run by Sir Dave Brailsford, as existing fans welcome news the outfit will continue.
Team Sky faced an uncertain future beyond 2019 when its main backer announced it would be pulling out at the end of the year.
Sir Dave was tasked with finding a new owner and sponsor as Sky plc was due to leave cycling after a decade.
The announcement came when Sky plc was bought out by American communications giant Comcast.
Company chairman James Murdoch, a driving force in Sky’s cycling sponsorship, departed shortly after.
But not everyone has been supportive Sky’s announcement, with many highlighting the environmental impacts of the work carried out by Ineos.
And of course there are those that feel Sky’s dominance in Grand Tour’s is bad for the sport and that the new sponsor will prolong their reign at the Tour de France.
Sky have now won all three Grand Tours, with Chris Froome taking four Tour de France titles since 2013.
Their first Tour victory came in 2013 with Sir Bradley Wiggins and Geraint Thomas took their most recent win in France last year.
Froome also won the 2017 Vuelta a España and the 2018 Giro d’Italia.
The Ineos deal has raised hopes that a women’s team could follow the buyout.