CEREDIGION Cabinet members have agreed to underwrite the cost of trying to attract two national cycling events to the county.

Despite facing a mounting funding crisis, the council has agreed to underwrite the bid to bring the UK Tour Series back to Aberystwyth and to try and have a stage of the Tour of Britain go through Ceredigion and finish at Aberystwyth.

Councillors say the events attract visitors and boost the local economy and are too important to lose.

The council is being asked to underwrite the £60,000 cost of bringing the Tour Series back to Aberystwyth for the eighth year, as well as underwriting £30,000 to try and make Aberystwyth the end stage of one of the Tour of Britain’s stages.

There would also be “operational costs” of £6,000 in arranging things such as road closures.

Cllr Gareth Lloyd, the Cabinet member for economic development and community services, said that finding sponsorship to help meet the costs would cut the amount of money the council would be expected to underwrite.

He said: “I think anyone who has been involved with this will know how many people it attracts to Aberystwyth and the surrounding area. The Tour Series event on Friday evening is a great way to attract people to the area.

“There is no assurance the event will return without someone underwriting it."