Jim Ratcliffe has promised he will not "tinker" or "interfere" in Dave Brailsford's Team INEOS following the rebrand.

The extremely successful cycling outfit, previously named Team Sky, had been looking for a new sponsor since late last year when a deal was agreed for INEOS to purchase the team in March.

Team INEOS was relaunched on Thursday, with Ratcliffe, Brailsford and star rider Chris Froome all in attendance.

And Ratcliffe, valued as Britain's richest man, was keen to stress that he and his company will primarily allow Brailsford to continue as normal with the work that has delivered eight Grand Tour titles.

"It's this team because it's clearly the number one cycling team in the world and it's probably one of the most successful sporting teams in the world," he said, explaining his investment.

"We've got the world's best cycling coach, who is one of the best coaches in the world, great riders, great young riders, and it's a sport that's becoming more popular as it's becoming more participatory.

"There are a lot more cyclists today than there were 10 years ago.

"I don't think we will be bringing too much. We will sit down and chat about what the issues are, but it's Dave's team. We're not ones for tinkering or interfering."

Team principal Brailsford, who has been on board since the 2010 launch, described a sense of pride at seeing the outfit's new form.

"When I thought about this in the last few days, I thought it would be exciting. But what I'm feeling is a great sense of pride," he said.

"You can see the INEOS bus, I'm here with Jim, Chris is in his new kit. I'm just proud of it all really, proud to be a British success story which we want to continue."