Having come on board in 2011 on an initial three year deal, the telephone company sponsoring the Movistar team is reported as being set to extend for at least one further year with the squad.
According to AS, the telephone communications company will officially announce prior to the start of the Giro d’Italia on May 4th that it will remain on board until at least 2014.
The news will be welcomed by the team, particularly as the Spanish economy is suffering badly at present and finding a new backer would have been very difficult. The team won stages in all three Grand Tours in both 2011 and 2012, and is aiming this year to keep that trend going.
Last season Fran Ventoso and Andrey Amador took stage victories in the Giro, while Valverde did likewise in the Tour and the Vuelta. The squad also won the team time trial in the latter. In addition to that, Rui Costa took the overall victory in the Tour de Suisse.
Encouraged by his runner-up slot to Alberto Contador in the Vuelta a España, Valverde has said that he is targeting the overall classification in the Tour de France this season.
The sponsorship news is a boost for the team, particularly as it comes after Valverde was forced to withdraw from the Volta a Catalunya while wearing the leader’s jersey. He crashed in the race, although he was not too badly hurt.