A campaign has been launched to save the oldest cycling track in the UK.

The Herne Hill Velodrome was used for cycling events in the 1948 Olympics.

But the venue in Burbage Road, where three-time Olympic gold medallist Bradley Wiggins started his competitive cycling career, faces closure due to a lack of funding.

Campaign chairman Hillary Peachey said the campaign needed to raise £2m by March 2011, to resurface the track and make improvements to keep it as a sustainable facility.

The owners of the Dulwich estate do not want to fund the improvements, and the campaign will look for corporate, private and lottery funding – as well as volunteers – to save it.

Mrs Peachey said: “It seems shameful that, with 2012 approaching, London cannot even sustain the facilities it has.

“That is why we are calling on Londoners as a whole to save this precious resource.”

The site is one of only 10 open-air cycling circuits in the country.

Peter Cattermole, who helps runs the velodrome, said: “If you came here on a Saturday and saw hundreds of kids bombing around the track, you’d think it would be criminal to lose it.”

He urged residents to join the campaign by coming to a public meeting to discuss the fundraising efforts from 7.30pm to 9.30pm at Dulwich College, in Dulwich Common, on October 6.

For more information about the campaign visit savethevelodrome.com