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Paris - Spanish company Telefonica will continue to support the Movistar men's and women's cycling team until the end of 2021, the outfit announced on Sunday.
The communications firm has sponsored the side since 2011 during a period when its riders have won a Giro d'Italia, a Tour of Spain and two World Championships.
Team Manager Eusebio Unzue said its backing was crucial to securing the recent titles.
"Telefonica’s support was key to obtaining those results," he said in a statement.
The announcement was made days after British broadcasters Sky said it was going to end its sponsorship of the highly successful Team Sky at the end of 2019.
