PARIS, June 21, 2011 (AFP) – Saxo Bank are to continue sponsoring the cycling team of Tour de France champion Alberto Contador next season (2012), the Danish stable confirmed on Tuesday.

The bank had planned to end sponsoring the team managed by Bjarne Riis at the end of the year but have instead pledged to maintain their financial backing.

The Danish bank took over sponsorship in the summer of 2008, and was co-sponsor along with CSC for the remainder of that season. It took over as sole title sponsor as of the 2009 season.