Team RadioShack, the cycling team launched by seven-time Tour de France champion Lance Armstrong, has secured a lucrative new sponsorship deal worth several million dollars.

Trek will be the official bike sponsor of the team in 2010, providing the team's bikes and paying a considerable cash sum. Trek and Team RadioShack held their first official meetings at a team camp in Tucson, Arizona over the last few days, and the team's riders received custom-fitted 2010 Trek Madone bicycles. Trek bicycles have won nine of the last ten editions of the Tour de France.

Team Shack riders will also receive Trek's Prototype 2011 Speed Concept bicycles before gearing up for the Tour Down Under in January.

• Armstrong finally reveals identity of new team sponsor

"We are excited to fuel the success of our friends at Team RadioShack by providing the most technologically advanced bicycles and components in the world," said Trek's director of marketing, Dean Gore.

"Our sponsorship of professional athletes has consistently pushed Trek to innovate and produce products which perform at the absolute highest level, and we look forward to continuing these fruitful relationships."