The team traces its history back to the Banesto, the team of five-time Tour de France winner Miguel Indurain. After the end of ibanesto.com's sponsorship in 2003, the Balearic Islands tourism board took over sponsorship. The team traditionally has a strong Basque element with general manager Jose Miguel Echavarri and directeurs sportif Usebio Unzue Labiano, Jose Luis Jaimerena and Alfonso Galilea Zurbano.
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