Under the deal, Saxo and current sponsor, consulting, systems integration and outsourcing company CSC, will co-sponsor the team until the end of 2008. The team will be known as Team CSC/Saxo. On 1 Januray 2009, Saxo Bank will become the sole main sponsor of the team, which from then on, will be known as Team Saxo Bank.
Saxo Bank's founders and joint CEOs, Kim Fournais and Lars Seier Christensen said: "For a global bank like ours, this is the perfect match and when it became possible, we just could not let this chance pass by. Team CSC/Saxo Bank has the international reach and name recognition that means that we will be able to get our message out to most of our clients group around the globe. We love the sport, we trust Bjarne Riis, and believe that together we will be winners".
CSC has been the team's main sponsor since 2001.
