Sky, already a sponsor of British cycling, is building a team of 25 riders, led by the Great Britain Olympic coach Dave Brailsford, to promote its brand. The team will compete in professional road races from 2010 and Sky hopes it may nurture the first-ever British winner of the Tour de France.
Sky is looking for two major consumer brands to come on board as sponsors.
Robert Tansey, the brand marketing director at Sky, said: "This is not just Sky sponsoring a team but creating a wholly owned Sky entity. Sky and Sky Sports are storytellers so this enables us to tell the story and to help make it. It will be an epic journey."