Oil company Argos will drop out of sponsoring the Dutch WorldTour team that carries its name after the end of 2013, the squad announced on Wednesday.

A new title sponsor will take over from January 1 2014, although the team is being tight-lipped over the name of its new backer. According to a statement issued by the squad, the new sponsor has signed up through 2016, and Shimano will remain as co-sponsor.

“Very recently, a company expressed interest in taking over the main sponsorship. The new sponsor is a good fit with our ambitious team goals,” said Argos-Shimano’s general manager, Iwan Spekenbrink.

“We would like to thank Argos for supporting the team and enabling it to reach its current level, and for giving us the space to further develop our project with our new major partner. We are also grateful to our new sponsor for expressing such confidence in our organisation, athletes and staff and in the vision for top sports and pro cycling upon which our organization is based.”

Argos-Shimano has enjoyed a successful first season in the WorldTour, with its German sprinter Marcel Kittel proving to be the revelation of the Tour de France with four stage wins, and 12 further victories through the year. John Degenkolb rounded out the season for the squad with wins in Paris-Tours and Paris-Bourges.

  • Simon Wood

    My money’s on Littlewoods