Although an official announcement is still pending, team owner Gerry Ryan recently explained that he was on the verge of securing fresh backing, and the Adelaide Advertiser reports today that BikeExchange, the Australian cycling retailer whose logo already features on the sleeves of the team's jerseys, is stepping up as a title sponsor.
BikeExchange is run under the umbrella company Marketplacer, of which Ryan is a board member, and a deal is said to be in place for the remainder of the 2016 season, with a view to extending into 2017.
The Australian team was established as GreenEdge when it entered the peloton in 2012, and its name was changed when Orica, a company that supplies chemicals and explosives to the mining industry, came on board part-way through that season. Orica recently announced that 2017 will be their final season as sponsors of the WorldTour team.
They have enjoyed a successful 2016 season so far, with Mat Hayman winning Paris-Roubaix and Esteban Chaves going close to winning the Giro d'Italia - the team's first Grand Tour podium.
July will see a switch back to their more traditional Grand Tour model, with stage wins the priority at the Tour de France, where Michael Matthews, Simon Gerrans, and Adam Yates will lead the line.