Russian entrepreneur Oleg Tinkov has finalized a buy out of Riis Cycling A/S.
Oleg Tinkov now is therefore the sole owner of Riis Cycling, the company behind the professional cycling team, which name has been changed to Tinkoff Sport A/S.
Tinkoff Credit Systems, the only Russian bank specializing in credit cards, has agreed to be the main title sponsor of the team in the coming three years.
Saxo Bank, the trading and investment specialist, has agreed to continue its sponsorship of the team in 2014 as a second name sponsor. So in 2014 the team name will be "Tinkoff-Saxo".
Tinkoff Sport's CEO will be Stefano Feltrin, and Bjarne Riis has agreed on a three year deal to become the team manager.
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