Bjarne Riis' CSC team has a new title sponsor, Saxo Bank, the team confirmed on Tuesday.
The agreement is effective immediately, meaning that Team CSC will appear as Team CSC/Saxo Bank at the upcoming Tour De France, and as just Team Saxo Bank in 2009. The new contract will run for three years. CSC has been the team's main sponsor since 2001.
"With Saxo Bank, we have found the perfect partner for the future," said Riis in a statement. "We are extremely proud to become associated with such a strong brand and a company that has a great passion for our team and our values."
The bank's founders and joint CEOs, Kim Fournais and Lars Seier Christensen, said that they had been waiting for an opportunity like this for some time. "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," they said in a joint statement. "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."