Team Sky announced a long-term commitment from News Corporation, which will put the 21st Century Fox brand prominently on riders' kit and team vehicles in time for the start of this year's Tour de France.
21st Century Fox is the proposed media and entertainment company that will be formed following News Corporation's separation into two distinct publicly-traded companies.
News Corporation and its subsidiary Sky Italia have been partners with Team Sky since the team first raced in 2010. The partnership announced today will extend and increase this support for the team, which will continue to be known as Team Sky and operate as Sky Procycling.
"We're excited to have this long-term commitment and to welcome 21st Century Fox on board," said Dave Brailsford of Team Sky.
"It feels like great recognition of the strength and value of the partnerships we've developed. 21st Century Fox is a perfect fit and is an appealing global brand that will be great to work with. We're looking forward to racing on their home soil, at the USA Pro Challenge in Colorado, this summer."
Confirming the move, James Murdoch, News Corporation's Deputy Chief Operating Officer, said, "It's a great time to increase our commitment to Team Sky and to add the support of an exciting new entertainment brand. We're proud of the team's success so far, its professionalism and its approach to attracting new fans to the sport and increasing grassroots participation in cycling."
The team is hoping to continue the success it has experienced during the past four years. During that time, Team Sky has risen to number one in the world rankings, taken 129 victories. Its star rider Bradley Wiggins became the first British rider to win the Tour de France, in 2012.
According to a study commissioned by Cyclingnews and performed by Repucom, last season Team Sky gave more media value to their partners and sponsors than any other cycling team, delivering over $550m in advertising value; the highest achieved by any professional team.
Wiggins will not be at the Tour de France start in Corsica on Saturday, but Team Sky will be represented by Chris Froome, Richie Porte, Edvald Boasson Hagen, Pete Kennaugh, Vasil Kiryienka, David Lopez, Kanstantin Siutsou, Ian Stannard and Geraint Thomas.