Sky will end its involvement in cycling after the 2019 season, Team Sky said on Wednesday.
The team will continue to race under a different name if a new sponsor is secured to provide funding from the beginning of 2020, Team Sky said in a statement.
“We came into cycling with the aim of using elite success to inspire greater participation at all levels. After more than a decade of involvement, I couldn’t be prouder of what we’ve achieved with Team Sky and our long-standing partners at British Cycling. But the end of 2019 is the right time for us to move on as we open a new chapter in Sky’s story,” said Jeremy Darroch, the Sky Group’s Chief Executive.
US cable giant Comcast in October became the majority shareholder of Sky, coming out on top against Rupert Murdoch’s 21st Century Fox. Fox, which owns a minority stake in Team Sky, has also confirmed it will no longer be involved in cycling after next year.
“While Sky will be moving on at the end of next year, the team is open-minded about the future and the potential of working with a new partner, should the right opportunity present itself. For now, I would like to thank all Team Sky riders and staff, past and present – and above all the fans who have supported us on this adventure,” said Team Principal Dave Brailsford.
“We aren’t finished yet by any means. There is another exciting year of racing ahead of us and we will be doing everything we can to deliver more Team Sky success in 2019.”
Team Sky took to the road in 2010 with the ambitious goal of winning the Tour de France with a British cyclist for the first time. This goal was achieved in 2012 with Bradley Wiggins.
Chris Froome won the first of his four Tour titles in 2013 and was the first rider in more than 30 years to hold all three Grand Tour winners’ jerseys at the same time. Earlier this year, Geraint Thomas became the third Team Sky rider – as well as the third Briton – to win the Tour de France, representing the team’s sixth success at the race in seven years.