Lance Armstrong's new sponsor for 2010 has been announced as RadioShack, the mid-range electronics retailer. The American company will sponsor the Armstrong-led ProTour squad, Team RadioShack, in the 2010 racing season.

“RadioShack has agreed to partner with us on this venture and ensure that this partnership and this team stays alive for years to come,” Armstrong said in a video posted on his website, Livestrong.com. The American is at present competing in the Tour de France for the Kazakh-sponsored Astana team.

Other than Armstrong, details on further team personnel remain sketchy, although it is safe to assume that a number of Astana riders will migrate with the 37-year old to the new team. Alberto Contador, who is leading the 2009 Tour, is unlikely to be part of Team RadioShack because of the well-documented tension between the Spaniard and the American.

However, the Tour de France rumour mill has been in overdrive with several leading names, including that of Mark Cavendish and both Schleck brothers, Frank and Andy, among those mentioned in dispatches.

Other likely personnel include Armstrong's long-term collaborator, team director Johan Bruyneel, and past and present team-mates, George Hincapie and Levi Leipheimer.

Further sponsors are also expected to be announced, with Nissan the most hotly tipped name. The team is estimated to have a budget in the region of $20 million (about £12 million).

Intriguingly, there is speculation that Armstrong is also likely to compete in elite triathlon events, including possibly the Hawaii Ironman. The Texan was an elite level triathlete, as a teenager, before focusing his energies on a road cycling career.