There were doubts about the future of the team, who were only formed 12 months ago, when it emerged in September that broadcaster Bike Channel had gone into administration.
Team manager Tim Elverson told Cyclingnews at the time that he'd had little warning of the financial problems faced by Bike Channel, which had signed up to sponsor the team for three years, but insisted he already had the requisite funds in place to run the team in 2018.
"Bike Channel are just part of the budget – they were a much smaller percentage of my budget for 2018 because I've already got a lot more. It just means I have to fill a void for a title sponsor," he said. "We'll still continue. The worst thing that happens is that we continue with the budget we had this year, because I've already got that."
Eisberg, a UK-based alcohol-free wine company, was already a secondary sponsor in the team's debut season but now steps up to title sponsor, with Canyon taking the lead title slot.
According to the New Year's Day announcement, existing sponsors Maxxis Tyres, Brother, Hunt Bike Wheels and Fenwick's have all increased their financial investment in the team, while there are two new partners in apparel brand DHB and components brand Rotor.
"We are grateful for all our sponsors who made last season possible. And we have been very fortunate to have strong partners continue into 2018," Elverson said. "I thank Eisberg for joining Canyon as new title partners along with Maxxis, Brother, Hunt and Fenwick's for all increasing their support. We also have continued backing from Salice, Sidi and Yellow Jersey, which is vital in keeping the stability of the team."
The sponsor and name change announcement was shortly followed by news of five new signings in Andy Tennant, Charlie Tanfield, Alex Paton, Louis Rose-Davies and Charles Page.
Tennant, 30, is best known for his performances on the track, where he has one world title and three European titles in the team pursuit, and joins from Team Wiggins.
"Andy was an interesting one for me," said Elverson. "I have admired his riding from afar for some time and he is someone I've always kept one eye on tactically. We had a chat and I felt straight away we would work well together. There are still many road goals he wants to achieve. Add to that the experience he brings to my young squad and he became someone I was very keen to sign."
Charlie Tanfield, 21, is the highly-rated younger brother of Harry Tanfield, who was the team's standout rider in 2017, and joins after impressing on the track and as a stagiaire at the team in the second part of last season. He helps bring down the average age of the roster, as do fellow promising Brits Rose-Davies and Page, both 18, the former having beaten Tom Pidcock to the junior road race title at the 2017 national championships. Paton, 27, the final signing, joins from Madison Genesis, having previously ridden for Elverson at Pedal Heaven.
"We have five new riders for 2018 and we have retained all our solid performers from last season, which I am very pleased about," Elverson said. "Combine those 14 with the same strong backroom staff and I expect us to make further progress this year."