Oleg Tinkov buys Saxo-Tinkoff team, becomes Tinkoff-Saxo for 2014

Tinkoff Saxo press conference

Russian billionaire Oleg Tinkov confirmed in London this afternoon that he has purchased the Saxo-Tinkoff team and its WorldTour licence from Bjarne Riis.

Tinkov, whose credit company has been the outfit's secondary sponsor since June 2012, reportedly paid €6m to acquire complete ownership from Riis.

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