Mar 18, 2019

Jim Ratcliffe set to become new backer of Team Sky

Britain's richest man Sir Jim Ratcliffe is set to become the new principal backer of Team Sky, stepping in to secure the financial future of the UK-based road cycling outfit that has won multiple Tour de France titles. The move would secure the future of the team which had been in doubt since Sky - the primary funder since the team was founded by Sir Dave in 2009 - declared it would pull sponsorship. The team has also become controversial in some quarters, with a UK parliamentary report last year accusing it of manipulating anti-doping rules, a charge it strongly denied. Four-time champion and Team Sky rider Chris Froome was confirmed to ride last year's Tour de France just days before its start, after being cleared of wrongdoing related to an apparent failed drugs test. Currently, the team is run by a UK-based company, Tour Racing, which is 85 per cent owned by Sky and 15 per cent by 21st Century Fox.

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