Sky will end its involvement in cycling in 2019 after more than a decade of backing.

The decision will bring to a conclusion Sky’s ownership and sponsorship of Team Sky, which will continue to race if a new backer is secured by 2020.

The team will compete as Team Sky for the last time during the 2019 road racing season.

Team Sky Principal Sir Dave Brailsford said: “While Sky will be moving on at the end of next year, the team is open minded about the future and the potential of working with a new partner, should the right opportunity present itself.

“For now, I would like to thank all Team Sky riders and staff, past and present – and above all the fans who have supported us on this adventure.

“We aren’t finished yet by any means. There is another exciting year of racing ahead of us and we will be doing everything we can to deliver more Team Sky success in 2019.”

Team Sky have won 322 races including eight Grand Tours, 52 other stage races and 25 one-day races after starting their sponsorship in 2010.

Two years later Sir Bradley Wiggins became the first Briton to win the Tour de France, with Chris Froome claiming the first of his four Tour titles in 2013.

He was the first rider in more than 30 years to hold all three Grand Tour winners’ jerseys at the same time.

In the summer Geraint Thomas became the third Team Sky rider – as well as the third Briton – to win the Tour de France, the team’s sixth success at the race in seven years.