HSBC will become the lead sponsor of British Cycling replacing Sky in a new deal .
The group is credited with creating superstar athletes such as record breaking gold medal winners Laura Trott and Jason Kenny and Tour de France and Olympic champion Bradley Wiggins in recent years.
"We are extremely proud to be working in partnership with British Cycling," said HSBC chief executive Antonio Simoes.
"Successes at the Olympics and Paralympics in both London and Rio have put cycling well and truly on the map and we are looking to help build on that legacy to make a real difference from grass roots cycling all the way up to those representing Great Britain at the very highest level. Our ambition is for this to become a true partnership that benefits every family across Great Britain.”
It brings to an end an eight year partnership with Sky which will continue with its Team Sky cycling team which was led to victory in the Tour de France by Chris Froome three times.
“We’ve had a great eight years with Sky and now with HSBC UK making a long term commitment to British Cycling, it’s going to help anyone who wants to get on a bike to have fun, get fit, go to work or school, or compete right up to the very highest levels of international sport," said Sir Chris Hoy.