Past Olympic road race champion Samuel Sánchez will race for the BMC Racing Team in the 2016 season, President/General Manager Jim Ochowicz announced Tuesday at the team's Tour de France rest day media conference.

Already this year, Sánchez has earned a runner-up finish overall at the inaugural Tour de Yorkshire while helping Tejay van Garderen to the same result at the Critérium du Dauphiné. At the Tour de France, Sánchez sits 14th overall while playing the role of lieutenant to van Garderen.

"I think that everybody has seen what a good job Samuel has done at this Tour de France," Ochowicz said. "So we made a decision that we are going to extend his contract for a lot of good reasons: His mentorship, his leadership in the team and his senior position in the peloton. All three of those things add up to an overwhelming decision to keep him on board for 2016."

Sánchez said the decision puts him at ease. He first signed with the BMC Racing Team in 2014 following the folding of the Euskaltel-Euskadi team, of which he had been a part since turning professional in 2000. This season, he was a late signee, making his debut on Feb. 1 at Cadel Evans's final race, the Cadel Evans Great Ocean Road Race.

"I am very happy about next year and pleased with this decision," Sánchez said. "The BMC Racing Team is the best team in the world, with good teammates, good management and good staff. All of them are good people and good professionals."

The "king of the mountains" winner at the 2011 Tour de France and third place finisher in 2010 said he is motivated for the final week of the race.

"The last four stages are important and I think Tejay is in a good position," Sánchez said. "And with the team already having three victories - Rohan Dennis in the time trial, the team time trial and Greg Van Avermaet's win - it is fantastic."