Confirmed: Ineos completes purchase of Team Sky

Confirmed: Ineos completes purchase of Team Sky

Joe Robinson 19 Mar 2019 Team will change name before Tour de Yorkshire in May Team Sky have confirmed their sale to major British chemical company Ineos with the team set to become known as Team Ineos as of 1st May. It was no secret that Britain's richest man Sir Jim Ratcliffe was in advanced talks over the purchase of the WorldTour team, although it comes as some surprise that Sky will leave its post as main sponsor before the end of the season. In a statement released by the team today, it said 'Sky and 21st Century Fox have agreed the sale of Team Sky to Ineos. Ineos will become the sole owners of Tour Racing Limited (the team’s holding company) from 1 May this year and will continue to fund the current team in full, honouring all existing commitments to riders, staff and partners,' 'The launch of Team ...

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