The Ineos team is expected to be renamed ahead of this year’s Tour de France.
The biggest cycling team will become the Ineos Grenadiers, named after a new car model launched by billionaire Ineos owner Sir Jim Ratcliffe in 2021.
Ineos recently announced that it not renew the contract of quadruple Tour champion Chris Froome beyond this year.
The team has yet to announce which team will participate in the Tour, which starts on August 29.
They are expected to run in a new set of stripes and colors, little more than one year after the transition from Team Sky to Team Ineos.
Under Sir Dave Brailsford, the team have won seven of the last eight rounds – six of seven as Team Sky, and again last year as Ineos in the form of their new star, Egan Bernal, 23 years old.
The team, which has the biggest budget in cycling at around £ 20million a year, own the strongest team in the sport and are again favorites to win this year’s race – delayed from July by the pandemic coronavirus.
Ineos is keen to promote the Grenadier – a new 4 × 4 SUV – ahead of its release next year to compete with Land Rovers.
The company is also strengthening its presence in sports sponsorship, particularly Formula 1 and the America’s Cup.
Ineos, primarily a chemicals company, is Britain’s largest privately held company and in 2018 reported pre-tax annual profits of £ 2 billion.