British Cycling has been awarded £35.4 million (US$48 million) to fund the British national cycling team for the next four years leading up to the 2024 Paris Olympics.

The funding is part of a total investment (open in new tab) of over £350 million ($475 million) in British sports over the next four years, with the ultimate goal of success at the Olympic and Paralympic Games. The funding was provided by UK Sport, which is funded by the UK government and the UK Lottery

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After a series of scandals in various sports, including cycling (open in new tab), UK Sport claimed to have broadened its approach beyond just aiming to win medals at the Olympics.

"There are two important things. Broad diversity and broad involvement, and while winning is still important, how you win is equally important for everyone in the system," UK Sport chairwoman and former rower Dame Catherine Grainger told the BBC. [UK Sport chair and former rowing Dame Catherine Grainger told the BBC. This is not just a phase, it is an evolution of the system and the way [we win] that is so powerful and popular right now."

Surfing and skateboarding were funded, but traditional sports such as rowing, track and field, gymnastics, and swimming all had their budgets cut by 10%. However, cycling, which has won many medals at the recent Olympics, secured a 12 percent increase in funding, ensuring that Great Britain is by far the best-funded national team in the sport.

At Rio 2016, Great Britain topped the medal standings with 12 medals, four years after dominating the London Games, especially in the track events.

"The money will be invested in supporting talented British cyclists to ensure we remain the top cycling nation at the Olympic and Paralympic Games," said Stephen Park, performance director of British Cycling.

"The success of the Great Britain Cycling Team on the international stage will allow British Cycling to reach new audiences and encourage more people to get on their bikes, whether for fun, fitness, travel or sport. More people cycling means more people living happier, healthier lives and less congestion and pollution where we live and work.

"Our aim is to inspire the UK to become a great cycling nation through becoming the best sports team in the world and the funding we will receive will play a key role in helping us achieve this.