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Team Sky rider Ben Swift spent the night in intensive care in Tenerife following a crash while out training with Tour de France winner Geraint Thomas.
Swift's team said he clipped a rock on a descent, causing bleeding from the spleen which required immediate treatment.
The 31-year-old Yorkshireman also suffered multiple contusions and facial injuries, but no apparent fractures.
Late on Thursday, Swift wrote on Twitter: "Thanks for the well wishes. I am still in intensive care at the moment. But hopefully move onto a normal ward tomorrow.
"They have stopped the bleed in the spleen. But just need to keep monitoring it. Along with that I have facial wounds and road rash."
Team Sky doctor Inigo Sarriegu said in a statement: "Swifty suffered quite a heavy crash whilst out training.
"Thankfully though, he didn't lose consciousness and was aware of the incident afterwards.
"We will continue to monitor him over the coming days, but 24 hours on from the crash he is already feeling better."
Swift, who finished second in Milan-Sanremo in 2016 and fifth in the 2017 UCI Road World Championships, rejoined Team Sky this winter on a one-year deal after two seasons with UAE Team Emirates. He previously raced for the British squad from 2010 to 2016.
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Discussions will take place early this week about a Wales homecoming for Tour de France winner Geraint Thomas.
Thomas can expect a hero's welcome after becoming the third British rider to win the Tour following Sir Bradley Wiggins and Chris Froome.
And a Cardiff Council spokesperson confirmed to Press Association Sport that talks are planned between themselves, Thomas and Welsh Cycling.
More than 30,000 people thronged Cardiff's city centre streets when a parade was held for the Wales football squad two years ago after they reached the semi-finals of Euro 2016.
A council spokesperson said: "Cardiff is extremely proud of Geraint's achievement and this landmark victory for Welsh sport.
"The city will be keen to celebrate Geraint's homecoming, and discussions for this will take place with Geraint and Welsh Cycling early this week."
Cardiff-born Thomas, 32, said winning cycling's biggest road race was a better feeling than his two Olympic gold medals in the team pursuit.
"I'm going to have a big party for a couple of weeks," former Whitchurch High School pupil Thomas said. "Maybe even a month.
"It would be nice (to win more Grand Tours). But if I do nothing now for the rest of my career I can be happy."
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