Contador turned down a new contract with the Astana team
Three-time Tour de France winner Alberto Contador has joined Bjarne Riis's Team Saxo Bank on a two-year deal after leaving the Astana team.
The 27-year-old Spaniard clinched his third Tour win in four years last month by a margin of 39 seconds.
"I'm sure this will be a fruitful alliance," said team manager Riis, himself a former Tour winner.
"I think I've chosen the best option and I have confidence in Riis to build a great team in 2011," said Contador.
The Spanish rider spent three years with Astana following the disbanding of his previous team Discovery Channel, where he won his first Tour title in 2007.
In his three seasons with the Kazakhstan-backed team, Contador added two more Tour titles, a Giro d'Italia and Spanish Vuelta title.
But he rejected the offer of a new deal and will now team up with Riis's team.
"I'm very happy and excited about signing a two-year contract," added Contador.
"With the unique philosophy and team spirit the team offers I'm ensured solid support from the sponsors, administration and staff of riders that I'm looking forward to becoming a part of myself.
"I'm eager to start this new adventure together with a team and sponsors who have placed their trust in me and I want to show that they have not made a mistake."
Riis described the chance to sign Contador as "an impossible opportunity that has occurred, and that we are able to realise.
"With three Tour de France victories on his resume and a position as number one on the world rankings, he is sure to stay at the very top for several years to come," commented Riis.
"I believe we have not seen his full potential yet."
On 30 July, Tour de France runner-up Andy Schleck and his older brother Frank announced their departure from Saxo Bank.