The firm's brand will be carried on the collar and seat of all team kit, starting with the Tour Down Under in Adelaide, Australia, in January and all subsequent races including the Tour de France in July.

Tim Howkins (pictured right), chief executive of parent company IG Group, said: "Although we have sponsored sports teams in the past, this is certainly our most significant venture so far.

"Cycling is currently going through a renaissance and we believe it has a specific appeal to our target audiences.

"We hope that our commitment to Team Sky will help them continue their pursuit for success, while helping IG Markets promote its products to a growing, worldwide audience."

The partnership underlines the popularity cycling continues to enjoy - both in terms of participation and viewing - on a truly global basis.

It will take the team through 60 races, on four continents, over a nine-month season.

Dave Brailsford, team principal for Team Sky, added: "These are exciting times.

"A year ago we gathered as a team for the first time and this week we've gathered again to review the last year and look forward to next.

"We have great riders, staff and partners and have huge hopes for Team Sky and for inspiring the public to ride.

"To start our second season with a world-leading partner in IG Markets is great news and a real testament to both our ambitions and achievements to date.

"We are pleased to welcome them into the team and on to our kit."

Team Sky counts Australian Michael Rogers – the triple world champion and reigning Amgen Tour of California title holder - along with British Olympic gold medal winners Bradley Wiggins (pictured left) and Geraint Thomas among its 29-strong squad.

It was created in February 2009, started to compete on the road at the Tour Down Under in January 2010 with immediate success and entered its first Tour de France last summer.

The team won 22 races in its first season.