Britain won 12 medals on the track at the Olympics in 2008, including seven gold, three of which were claimed by Sir Chris, and the suspicion is that the new rule has been adopted by cycling's world governing body, the UCI, to prevent a similar dominance happening in London.
But Sir Chris has claimed that the rule will devalue the quality of the event. "It's frustrating because some of the best riders in the world won't be at the Olympic Games," Sir Chris told Reuters during an interview at the British Championships in Manchester today. Pat McQuaid, the President of the UCI, has claimed that by giving riders from more countries the opportunity to take part in the Olympics it will help the sport develop around the world. But Bolton' Jason Kenny (pictured), who won gold and silver medals in Beijing, joined Sir Chris in condemning the decision.
"I think it's a shame," said Kenny.
"You want to see the best riders at the Olympics, maybe the top five might be two French and two British."
Kenny, 22, finished second to Sir Chris in the individual sprint in Beijing but beat him today in Manchester.
Competition for places in Britain's team for London 2012 will be fierce.
"When I watch sport I just want to see the best people, whether they're from the same country doesn't really bother me," said Kenny.
"It just means we'll [the British team] be knocking the stuffing out of each other six months earlier, trying to get the spot. "The overall goal is still the same, just to win."