Armstrong’s Ex-Team Said to Agree to Breakaway Cycling Series

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Lance Armstrong’s former team is among eight elite squads that agreed to race in a series that cycling’s top official has called a breakaway league, two people with direct knowledge of the situation said.

Sports marketing company Gifted Group Ltd. is seeking approval from the sport’s ruling body to start its new World Series Cycling in 2014, according to the people, who were granted anonymity because the project isn’t public. The 10-race championship would co-exist with the Tour de France and eight other high-profile races, the people said.