Controlled by rich Brit Jim Ratcliffe, Ineos is one of the world's largest petrochemical companies and has skin in the sports sponsorship game, stumping up a reported $153m (USD) for a at the 36th America's Cup in 2021.
Sky's current budget is said to be around $65m AUD per year.
While Team Sky refused to comment on Cyclingnews' , the publication said 'several sources' had confirmed the news and cited Spanish newspaper Marca's report that Sky DS Matteo Tosatto confirmed at the UAE Tour the team had secured a new title sponsor post-2019.
A Brexit backer, Ratcliffe resides in Monaco, like Chris Froome, and is rumoured to have a passion for cycling.
Many in the cycling Twitterati spotted overnight holding domain names (blank pages at teamineos.com, teamineos.co.uk) and a Twitter account (since deleted), all of them not to be confused with the America's Cup team .
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