Up to CAD$2 million (£1.1 million/$1.6 million/€1.3 million) in funding will be provided by 94 Forward over the next two years to help support Cycling Canada’s strategic plan.

This will involve initiatives designed to develop a regional hub in the Victoria area.

The investment will be the largest made by 94 Forward to date, exceeding previous collaborations with Athletics Canada and Triathlon Canada.

Cycling Canada claim the partnership will by the largest single private funding contribution made to the organisation in its 139-year history.

The 94 Forward was established following a Federal Government provision of CAD$10 million (£5.7 million/$8 million/€6.7 million) for use after Victoria 1994 and which added to an operating surplus of CAD$5.5 million (£3.1 million/$4.4 million/€3.7 million) from the event.

The organisation manages the fund with the aim of supporting the on-going development of high-performance sport.

John MacMillan, President of 94 Forward, revealed the organisation had invested in Cycling Canada after being impressed by the national governing body’s strategic plan.

"On behalf of the Board of 94 Forward I would like to express our congratulations to Cycling Canada," MacMillan said.

"They have a bold and exciting plan.

"We were convinced to make an investment in their journey.

"Victoria’s cycling community is thriving and the Cycling Canada Hub needs to build on this community of cycling enthusiasts.

"The disciplined stewardship of the 94 Games Legacy continues to give us opportunities to build world class programes.

"This project will be enhanced by the tremendous amount of municipal support shown for sport and physical activity in the region.

"Many good people and agencies have made greater Victoria the summer sport training capital of Canada."

Cycling Canada claimed its 10-year strategic plan has a renewed and concerted focus on the growth and development of Canada’s cycling community.

The national governing body outlined its top priority to be the collective development and delivery of more cohesive programmes and resources to encourage participant growth and member engagement across Canada.

As part of the collaboration 94 Forward will work closely with both Cycling Canada and Cycling British Columbia in support aim through targeted investments in key areas.

This will include regional grassroots programming, events, athlete and coach development.

Pilot programmes will also aim to grow participant and membership bases at all levels of the sport.

Models developed via the collaboration will be shared and promoted on a nationwide basis to support the development of programming and activities in all regions of the country.

The development of a Cycling Canada Hub in the greater Victoria area will seek to boost the development pathway of the sport, from from grassroots programmes and community events through to national and international level programming and competitions.

"We are excited to work with 94 Forward and key partners and stakeholders in the region as we begin to pilot, test, connect and refine the various elements of our new strategy," said Matthew Jeffries, Cycling Canada chief executive.

"Victoria has a rich cycling history and a tremendous abundance of road, trails, facilities and year-round training opportunities.

"More importantly, the region is home to one of our nation’s most engaged and thriving cycling communities – it is uniquely positioned to play an important role as we work to develop and grow our national cycling community from coast-to-coast.

"We are incredibly grateful for 94 Forward support and believe that this collaboration will be a significant catalyst in helping us bring our exciting plan to fruition."

As an initial step in the collaboration Cycling Canada has retained the services of Jon Watkin, who will serve as hub development lead for the Victoria Capital Region District on a part-time contract basis.

Watkin will be tasked with providing initial support, consultation and development work towards developing a hub in the region.