11 WorldTour teams create Velon business group

11 of professional cycling's leading teams, including Team Sky, BMC, Tinkoff-Saxo, Orica-GreenEdge and Garmin-Sharp have announced that they have become controlling members of the Velon group, a joint-venture company that aims "to drive a financial model that, in line with other international sports, ensures a sustainable future for the teams".

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