London has turned down the chance to host the start of the 2017 Tour de France, angering the race owners.
London beat bids from Edinburgh, Manchester and several German regions to stage the Grand Depart.
But last week, a day before contracts were meant to be signed, Transport for London (TfL) said it was pulling out.
"To ensure value for money we must make difficult choices," Leon Daniels, managing director of surface transport at TfL, told BBC Sport.
"We have always said that the return of the Tour was subject to funding."
The timing of the decision has angered the Amaury Sport Organisation (ASO), the French company which owns the race.
As the body responsible for all transport policy in London, TfL would have provided the funds for staging the Tour's opening stages.
London has turned down the chance to host the start of the 2017 Tour de France, angering the race owners.London beat bids from Edinburgh, Manchester and several German regions to stage the Grand Depart.But last week, a day before contracts were meant to be signed, Transport for London (TfL) said it was pulling out."To ensure value for money we must make difficult choices," Leon Daniels, managing director of surface transport at TfL, told BBC Sport."We have always said that the return of the Tour was subject to funding."The timing of the decision has angered the Amaury Sport Organisation (ASO), the French company which owns the race.As the body responsible for all transport policy in London, TfL would have provided the funds for staging the Tour's opening stages.
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