Mark Cavendish's cycling team HTC-Highroad set to fold

HTC-Highroad, the team of top Tour de France sprinter Mark Cavendish, is set to fold at the end of the season, manager Bob Stapleton has confirmed.

Cavendish's contract with the team - with whom he won the green jersey at the Tour last month - is due to expire at the end of the year.

On Tuesday, Cavendish told the BBC he had decided which team he will be with in 2012, external, but did not reveal their name.

There has been speculation linking the 26-year-old with Team Sky, external.

"After an exhaustive search to secure long-term sponsorship we have concluded that it's time to release our team members to pursue other options," Stapleton said in a statement.

"Our team's success has been based on our outstanding people. It's in their best interest that we make this decision now."

The statement added that the the team would race through to the end of the 2011 season.

Since its inception in 2008, HTC-Highroad has won 484 races including 54 grand tour stages.