Complex sentence: Currently he wears the number 1 jersey at the 2006 Tour de France, after being chosen as the leader of the Discovery Channel Pro Cycling Team, following the retirement of 2005's winner, his former teammate Lance Armstrong.
Split into simpler sentences: Currently he wears the number 1 jersey at the 2006 Tour de France, after being chosen as the leader of Discovery. That happens following the retirement of 2005's winner, his former teammate Lance Armstrong.