IG Markets, a world-leading provider of Contracts for Difference and part of IG Group, has been announced as an Official Partner of Team Sky from the start of the cycling season.

Team Sky will carry the IG Markets brand on the collar and seat of all team kit for the 2011 season, starting with The Tour Down Under to be held in Adelaide, Australia in January and all subsequent races including the Tour de France in July.

The partnership underlines the growing popularity that cycling continues to see – both in terms of participation and viewing – on a truly global basis and will take the team through 60 races, on four continents, over a nine-month season.

Tim Howkins, Chief Executive of IG Group, commented: “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, whilst helping IG Markets promote its products to a growing, worldwide audience.”

Contracts for Difference (CFDs) allow investors to gain economic exposure to a wide range of assets without having to take physical ownership of the product, with over 8,000 worldwide equities, indices, commodities and currency pairs on offer through IG Markets. Clients also have the ability to trade long or short depending on whether they believe an asset’s price will rise or fall. IG Markets provides all its clients with a comprehensive suite of risk management and trading tools to ensure they can continually work to improve their performance in the financial markets.

Dave Brailsford, Team Principal for Team Sky, added: “These are exciting times for Team Sky. 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 onto our kit.”

Team Sky counts the British Olympic gold medal winners Bradley Wiggins and Geraint Thomas, plus Michael Rogers – the triple world champion from Australia – amongst its 29-strong squad. It was created in February 2009, started to compete on the road from January 2010 and entered its first Tour de France last summer. The team won 22 races in its first season.

IG Markets will be offering members of the public the opportunity to race against some of the team’s stars – including Bradley Wiggins – on a set of Wattbikes. The event will be held in the City of London on Friday 26 November and for more details, visit www.igmarkets.co.uk/cycling