Slovak cyclist Peter Sagan and a current member of the Tinkoff team signed a contract with the German team Bora, stated the team's owner Oleg Tinkoff on Tuesday. "The deal is sealed. They will give him much more money that I do. I gave him €4.5 million annually; they offered him six," said Tinkoff. With the new contract, Sagan will become the highest paid cyclist in the world, as other big names such as Briton Chris Froome or Italian Vincenzo Nibali reportedly earn 'only' between €3.5 and €4 million. Tinkoff also said that after this season he will quit cycling and dissolve his team. The news emerged during the second resting of this year's Tour de France. On the same day Peter's biggest opponent in the sprinter's competition Briton Mark Cavendish abandoned the competition. He decided to focus on training for the August Olympic Games in Brazil as his chances to beat the Slovak and win the green jersey dissolved.