Report: British Cycling could face financial probe due to alleged private sale of publicly-funded equipment

British Cycling could have its books examined by forensic accountants following allegations of misuse of public money spent on its World Class Performance Programme (WCPP), reports Sportsmail.

The allegations, made by more than one person, are understood to centre around the private sale of bikes and other equipment originally bought for the WCPP – an issue UK Sport ordered British Cycling to investigate “as a matter of urgency” almost a year ago.

> British Cycling ordered to investigate online sales of GB kit

They were raised with the independent review panel that has been investigating the national governing body for the past year following claims of bullying and sexism, which is due to publish its report next month.

According to Sportsmail, the panel decided the allegations were outside its terms of reference, and has referred the matter to UK Sport, which commissioned the review and is the body that provided British Cycling with more than £60 million in funding during the past two Olympic cycles.

The governing body and UK Sport were provided with draft copies of the report in December, with British Cycling agreeing an action plan with the funding body in response to its findings.

> UCI boss Brian Cookson wasn't invited to give views to British Cycling independent review

Sportsmail says that British Cycling is now considering what action to take on issues raised during the independent review that are outside the scope of the panel.

However, UK Sport had already told British Cycling to investigate the potential unauthorised sale of kit nearly 12 months ago after being sent a screengrab of British Cycling kit and a bike being sold online

In a statement issued at the time, it said: “UK Sport has asked British Cycling to investigate these allegations as a matter of urgency as it is vital we protect our investment in all sports on the World Class Programme.

"It is not appropriate to speculate or comment further until the investigation is complete."