The Fort Worth Press - Iniesta's company rebranding Israel Premier Tech cycling team

The statement said that the team would be Swiss registered and based in Barcelona and Girona in Catalonia.

It said the world tour and junior teams would have two principal sponsors.

"The international sports and entertainment company NSN (Never Say Never) and Stoneweg, a global investment platform based in Geneva Switzerland, have entered into a joint venture in professional road cycling to take over the WorldTour and Development team structure ahead of the 2026 season," read the statement

In August and September, several stages of the Spanish Vuelta Earlier were curtailed or interrupted by protestors. Earlier this month, Canadian group Premier Tech announced that it was withdrawing from the team, deeming it "unsustainable" to continue sponsoring it.

After the Vuelta, the Canadian multi-national Premier Tech called for the team to change its name and adopt a new identity and brand image.

The team agreed to move away from an "Israeli identity".

Even so, earlier this month Premier Tech, which makes fertiliser and other products for agriculture and gardens, decided to withdraw altogether.

NSN is a seven-year-old Barcelona-based company that lists former Barcelona and Spain star Andres Iniesta among its 12 founders.

NSN's diverse range of activities includes owning Danish second-division team Helsingor and operating as a promoter and 'content provider' in football, music and exhibitions.

"It is a huge challenge for NSN to immerse ourselves in the world of cycling, a sport with global reach," NSN president Joel Borras said in the press release.

"It represents a fantastic opportunity to explore new ways of communicating and connecting with a sport that aligns with the values of our company."

The team said it will hold a training camp next week and "will unveil its new look and race program in the coming weeks."

T.Gilbert--TFWP