The mayor of Leicester has revealed the city is in discussions with British Cycling to host an elite annual road race, likely to attract up to 5,000 spectators, as part of a new partnership with the sports body.

The city's Sky Ride – a UK-wide initiative to get more people cycling - will also continue for another three years.

As part of the agreement Leicester City Council will contribute £63,750 over three years, matched by £135,000 from British Cycling.

Discussions are still underway for the new cycle race, but it is likely to be held in August and feature elite athletes competing in a headline event on a closed road circuit.

Mayor Peter Soulsby said: "There has been a huge growth in the popularity of cycling in recent years and this had a tremendous boost with British Cycling's succeses at last year's Tour de France and the London 2012 Olympics."

Leicester was one of the first four cities to take part in Sky Ride when it launched in 2009 and since then has seen an annual increase of people cycling everyday to 10 to 15 per cent.