Sky's partnership with British Cycling has been named Sponsorship of the Year at the Hollis Sponsorship Awards.
The TV, home phone and broadband provider entered the professional cycling arena in 2010, with Team Sky claiming a number of high-profile UCI World Tour victories.
Judges at the Hollis Sponsorship Awards described Sky’s partnership with British Cycling as “ground-breaking”, recognising the work the firm does to promote the sport at all levels.
The partnership was formed in 2008 in a bid to get one million more people cycling regularly, and also to produce the first British winner of the Tour de France.
Having achieved both of these targets ahead of time - in light of Bradley Wiggins' triumph in the 2012 race - the deal has been renewed for a further four years.
Graham McWilliam, Group Director of Corporate Affairs at Sky, said that by focusing on areas the company is passionate about, it can make a difference and inspire people to get involved.
"From encouraging one million more people of all ages and abilities to start cycling to championing creativity and opening up the arts to more people, Sky is committed to making a positive contribution to the communities in which we work," he stated.