Russian billionaire Oleg Tinkov is aiming to build the best team in world cycling.
It comes after the businessmen bought the Saxo-Tinkoff team for a reported €5.9 million.
Tinkov called the buy “a dream come true” and promised to go shopping for cycling stars to make it the best in the world.
“We could buy, and we will buy, more riders, stronger riders, more stars if you wish,” Tinkov told a news conference.
The new team is expected to be build around Spanish star Alberto Contador.
Tinkov was formerly a sponsor of the team. But he now owns the team outright, with Denmark’s Saxo Bank sponsors.
The purchase means the team name has been re-jigged to Tinkoff-Saxo.
Tinkov bought the team from a Danish outfit owned by former rider Bjarne Riis.
Riis, who will become the team’s general manager, said: “This is a great day for the team. It means long-term stability for the team. With added resources, it gives us the possibility to create a world-class team and help us fulfill our goal to become the No 1 team in the world.”