ANNECY, France (AP) — Lance Armstrong and Radio Shack are forming a new cycling team that will compete in next year's Tour de France.

The seven-time Tour winner made the announcement Thursday in a video on his Livestrong Web site. He also is expected to compete in running and triathlon events for Team RadioShack beginning in 2010.

Armstrong said in a statement he hopes to leverage the power of the electronics store chain to help his Livestrong Foundation in its fight against cancer.

The 37-year-old cancer survivor came out of retirement this year to ride for the Kazakh-funded Astana team. He is in third place overall after Thursday's time trial.