Britain's richest man set to take over Team Sky

Reuters: Chemicals giant Ineos, owned by Britain's richest man Jim Ratcliffe, is set to become the new sponsor of cycling's Tour de France-winning Team Sky, according to media reports on Monday (March 18). Broadcaster Sky announced last December that it would end its involvement in the British-based team and professional cycling after the 2019 season. The hugely successful team, founded in 2010 with the ambitious goal of securing a first Tour de France victory by a British cyclist within five years, have won eight Grand Tours since 2012. Bradley Wiggins, four times winner Chris Froome and Geraint Thomas have all triumphed on the Tour de France with Sky. Froome also won the Vuelta a Espana and Giro d'Italia. The BBC said the team would be renamed Team Ineos and are likely to remain under the charge of team principal Dave Brailsford. Ratcliffe, chief executive of the country's largest private company, topped last year's Sunday Times rich list with a net worth of 21 billion pounds ($27.81 billion).