SweetSpot revived the professional road race in 2004 after a five-year absence and has since organised it annually, bringing the event to millions of cycling fans around the United Kingdom, who this year saw Britain's 2011 road race world champion Mark Cavendish (pictured top) take the title.

Brian Cookson, President of British Cycling, said it wanted to take a "fresh look" at the event after the cycling successes of the London 2012 Olympics, and the rising profile of the sport.

"SweetSpot has nurtured and developed the event over recent years but the time is now right to assess all options," he said.

SweetSpot, which has been jointly appointed to run the RideLondon cycling festival next year in the Olympic Park, said in a statement that it intends to participate in the tender process.

"SweetSpot Group would like to express their surprise and disappointment at the decision by British Cycling to seek expressions of interest to tender for the right to organise The Tour of Britain from 2014 onwards," a statement read.

"The SweetSpot team would like to state its continued commitment, investment and passion for organising and promoting national and international cycling events, and look forward to announcing details of the 2013 Tour of Britain and Tour Series early in the New Year."

The agency will run the 10th anniversary Tour of Britain on September 15 until 22, 2013.

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