So, why are bikes and kit used by our Olympic cyclists being sold online?

Aculture of selling for personal profit high-tech bikes worth thousands of pounds — as well as equipment and kit — has developed inside the allconquering British cycling team.

In a statement last night, authorised by Ian Drake — the chief executive of British cycling already under fire for the discrimination and bullying scandal that has led to the resignation this week of technical director Shane Sutton — a spokesman insisted the governing body keeps ‘a detailed and exhaustive inventory of all uK Sport-funded equipment’.

But Sportsmail is aware of at least three bikes, one of which was supplied to an Olympic medallist, that have been sold privately — in one case on the internet.

British cycling have launched an investigation after being contacted by uK Sport, who are funding the sport to the tune of £30.5million in the four-year cycle up to this year’s rio Olympics.

uK Sport received an anonymous email on Monday that appeared to show a bike used at the 2012 Olympics in london was being offered for sale online.

In addition to a photograph of the actual bike there were also pictures of high-performance training kit, the type of which would have been used by British team members.

the internet is flooded with British team cycling kit, with one internet seller refusing to answer questions yesterday as to the origin of the items he was selling before slamming down the phone.

cervelo, a canadian high-end racing bike manufacturer, are the current supplier to British cycling.

Some bikes are simply provided by the company as part of the deal with British cycling.

Others, according to cervelo yesterday, are paid for, presumably from the extensive funding British cycling receives from uK Sport.

‘As part of the contract they get free bikes and they also buy some from us,’ cofirmed a spokesman for cervelo.

Prior to that, British cycling were supplied by Pinarello, another highend bike firm from Italy.

riders are not even allowed to leave the building with the specialist track bikes developed by the uK Sports Institute and ridden in events like the Olympic Games.

But Sportsmail understands that in some cases, a few training and ride bikes, provided by suppliers like cervelo and Pinarello, are effectively given to the riders. British cycling explained yesterday that some bikes are simply scrapped if damaged or too worn to be of any value. Parts and components are also occasionally used as a payment in kind for services supplied by a Manchester bike shop that provides mechanical support to the British team.

But where possible, bikes can also be sold by British cycling, with the money paid into British cycling coffers. Indeed, this is common practice on the professional road circuit, with a former official from one professional team that is also supplied by cervelo explaining yesterday that they look to raise significant funds for the team by selling off their bikes and kit at the end of every season.

In a statement last night British cycling said: ‘there is an ongoing investigation into the information provided to us by uK Sport this week. We are unable to comment on the details while the inves- tigation continues. ‘the kit and equipment used by Great Britain cycling team riders and staff is supplied in one of two ways: performance equipment developed and funded wholly by uK Sport’s research and Innovation programme, and equipment and clothing supplied free-issue by British cycling’s commercial partners as value-in-kind.

‘British cycling keeps a detailed and exhaustive inventory of all uK Sport-funded equipment — going back over 10 years — and can categorically state that no kit or equipment provided by uK Sport is, or has ever been, given away or sold on for profit, or has even left the National cycling centre in Manchester.

‘Our commercial partnerships are negotiated solely by British cycling. Any equipment supplied in this way is booked in and out via a stock management system.

‘New kit is issued to athletes on the programme every 12 months. At the end of every 12-month cycle, kit or equipment is recycled, or scrapped if damaged. records are kept, which include every item.

‘When kit is issued, riders are informed that it is the property of the GB cycling team, is not their personal property and should be returned when they leave the programme or when requested.

‘Non-current, unworn kit is also occasionally sold at “cycle jumbles”, in cases where consent is provided by the commercial partner involved, and the money raised from these sales is then used to support the GB cycling team.

‘In addition, British cycling also has a long-standing relationship with an independent bicycle dealership who perform mechanic services for the team. they have received payment in kind with equipment which is no longer of use to the team.’

It is understood all bikes financed by uK Sport do remain on the premises of British cycling headquarters at Manchester velodrome.

What remains less clear is what happens to every single bike and component supplied by sponsors like cervelo and Pinarello.

the bike shop referred to in the British cycling statement is Will’s Wheels in Stockport, above which the recently-resigned Sutton lived for eight years.

Its eBay page, WillsWheels2, is indeed flooded with British team cycling kit, with shop owner Will Wright insisting yesterday that much of the kit was acquired as payment in kind for building and repairing bikes, or bought at British cycling jumble sales.