UK Sport increases elite-level cycling funding
Laura Trott and omnium gold, London 2012 Olympic Games, track day six
UK Sport this afternoon confirmed that it will increase cycling's elite-level funding by 11% in the build-up to the Rio 2016 Olympics.
British Cycling will receive £30.6m, nearly five million more than it did ahead of the London Games.
The increase is largely performance related; the target of winning between six and 10 medal in this summer's Olympics was exceeded. Britain's cyclists scooped 12, eight of which were gold.
Britain's paracyclists have been rewarded for their successful performance in London, too.
They topped the table for the second successive Paralympics, and have been awarded £6.7m in funding as a result.
UK Sport's announcement comes 24 hours after Sport England announced that it had awarded £32 million to British Cycling to develop grassroots cycling throughout England over the next four years.
British Cycling's chief executive Ian Drake said: "At British Cycling, we take seriously the responsibility to deliver good value which comes with lottery funding. We believe that winning medals is not an end in itself but a means to growing the sport as whole.
"Today's announcement from UK Sport is recognition of the success of our riders, our coaches and the work we put into identifying new talent. It is also a challenge for us to do better over the next four years - particularly in para-cycling where we have received substantially increased funding.
"In 2012 we have seen unprecedented results for British cyclists but there is still work to be done to improve the sport in this country."
HOW THE OLYMPIC SPORTS COMPARE (London cycle investment in brackets)
Rowing £32.6m (£27.2m)
Cycling £30.6m (£26m)
Athletics £26.8m (£25.1m)
Sailing £24.5m (£22.9m)
Swimming £21.4m (£25.1m)