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Ineos seals takeover deal for Team Sky

Pan-European pay-television broadcaster Sky, and its parent company 21st Century Fox, have today (Tuesday) confirmed the sale of its eponymous UCI WorldTour cycling team to UK petrochemicals manufacturer Ineos.

The respective parties said Ineos will become the sole owners of Tour Racing Limited, the team’s holding company, from May 1 and will continue to fund the current team in full, honouring all existing commitments to riders, staff and partners.

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