Sky Sports has signed a five-year sponsorship deal with British Cycling to give the team support up to the 2012 Olympics and beyond.
The Multi-million pound deal has just been announced on the Sky Sports chaneel and on http://www.skysports.com.
The partnership will cover competitive cycling in all forms from track racing to BMX and road racing. The sponsorship extends to the paralympic athletes, as well as the elite teams. Money will also be spent on a development programme and grassroots schemes aimed at schools and communities.
Sky also has plans to encourage cycling via its collection of sports channels, programmes and advertising.
"I believe this partnership will create a step change for cycling," said David Brailsford, British Cycling's performance director.
"Cycling is already one of Britain's sporting success stories and this is a truly exciting opportunity to grow the sport even further.
"Sky is a committed and passionate partner for British Cycling. Working together, we can take elite cycling to new heights and get more people involved in the sport at all levels."
Sky chief executive Jeremy Darroach, said: ""Sport is at the heart of what we do at Sky, and it's not just what we do on screen.
"We want to encourage participation in sport and help to develop future talent. British Cycling has already achieved outstanding success and grown a host of sporting heroes.
"We want to help Britain's elite to achieve even more success, develop the next generation of talent and inspire millions of people to get on their bikes."
Sky Sports also announced sponsorship of the London Freewheel cycling event on September 21.