The 2010 season for the Caisse d'Epargne cycling team began in January with the Tour Down Under and ended in October at the Giro di Lombardia. As a UCI ProTour team, they were automatically invited and obliged to attend every event in the ProTour. The team's manager was Eusebio Unzue, who had led it since the Banesto days.

Though an offseason attempt to sign reigning Tour de France champion Alberto Contador was ultimately unsuccessful, the team added noteworthy riders for the 2010 season, including former Tour de France King of the Mountains Mauricio Soler and Marzio Bruseghin, who finished in the top ten in three Grand Tours over the previous two seasons.

The French banking group Caisse d'Epargne departed sponsorship after the 2010 season, preferring to sponsor the French Olympic teams. Spanish telecommunications company Telefónica, S.A. has stepped in to sponsor the team from 2011, giving the team the name of one its brands as it races as Team Movistar in 2011.

After lengthy legal proceedings, the team's top rider Alejandro Valverde was given a global two-year ban on May 31, backdated to January 1. Since he was, in essence, banned for all of the 2010 season, the results he obtained before the Court of Arbitration for Sport's decision came down were vacated and awarded to previously second-placed riders.