"From the Tour onwards we have a new name: RedBull-BORA-hansgrohe" - Ralph Denk confirms new sponsorship agreement is complete

After news first broke of global drinks conglomerate RedBull attempting to join the sponsorship parties of the BORA - hansgrohe team, rumours have abounded about who could potentially join the team with their new investment. Ahead of the first Grand Tour of the year, team manager Ralph Denk have provided an update.

"I want to give the entire cycling world an update on our joint venture with RedBull. The deal is done, with all the paperwork and such. So from this moment we can look ahead," a delighted Denk reveals in the team's pre-Giro d'Italia press conference. "We received the green light at the end of January and we completed the project within a few weeks, which we are of course very happy with. I must also thank BORA and hansgrohe for this, as they also believe in the project for the future. These two companies remain on board and that is excellent news."

"Why did we start this? Big victories drive us. With the arrival of RedBull we can pursue this," Denk continues, full of optimism about the new situation the team finds itself in. "This is not just about the Tour de France. In general, we want to realize our potential in the (medium) long term, which we have now with RedBull. The fact that they have chosen to invest in my project makes me a proud man."

Although there has been talk of Wout van Aert and Remco Evenepoel among others, Denk refuses to be drawn in on any transfer rumours just yet. "From the Tour onwards we have a new name: RedBull-BORA-hansgrohe, so with three name partners. We also get a new identity, in terms of clothing, bicycles, helmets and so on. It takes a lot of work, but for us it gives us a lot of motivation," he concludes. "Our entire structure is being adapted to this, including a promising team and a higher budget. This way we can train our own talents and we now have that stability. A large part of the money also goes to the performance of the team."