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Saxo Bank retains sponsorship of Contador's team

(Reuters) - The Tinkoff-Saxo cycling team, led by twice Tour de France winner Alberto Contador, have received a boost with Denmark's Saxo Bank announcing it will remain a co-title sponsor for 2015.

The team is owned by Russia's Oleg Tinkov and managed by Dane Bjarne Riis, with Saxo Bank involved since 2008.

Tinkov, who purchased the team from Riis late last year, suggested last week that the team would change its name to Tinkoff Team, but Thursday's announcement confirmed it would remain as is.

"Saxo Bank with Lars and Kim (Saxo Bank chief executives Lars Seier Christensen and Kim Fournais) in the lead has been a fantastic partner since 2008 and they’ve meant a lot to the team and to me personally," Riis said in a statement.

"We’ve created amazing results together during the years and their ongoing commitment will ensure stability, which is essential to any cycling team in order to focus on building a strong team and creating results on the road."

Spaniard Contador, a pre-race favorite, crashed out of this year's Tour, but the team's Polish rider Rafal Majka claimed the mountain classification.

The team also won three stages.

(Reporting by Josh Reich. Editing by Patrick Johnston)

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