Sky to end sponsorship of Team Sky next year

Move follows takeover by Comcast; team says it will continue if another backer can be found Broadcaster Sky is to cease sponsorship of Team Sky at the end of next season as it ends its involvement with professional cycling. The company has backed the team – the richest in the sport, with an annual budget of around £30 million – since 2010. Sky chairman James Murdoch, himself a keen cyclist, was key in the sponsorship deal being put together and its subsequent renewals, but he left the business in October after its £30 billion takeover by US firm Comcast. In a statement on the team website, Sky chief executive Jeremy Darroch said: “We came into cycling with the aim of using elite success to inspire greater participation at all levels.