Health bosses in Preston, Lancashire, have pledged £60,000 to go towards a project for the city's next Guild celebrations.
NHS Central Lancashire and Lancashire Teaching Hospitals NHS Trust have pledged to back the Guild Wheel cycle track to the tune of £15,000 a year for the next four years.
The sum is a major boost for organisers behind the project which needs £4m in funding.
The Guild Wheel, which is the brainchild of former England international cyclist and Preston councillor Peter Ward, has been backed by the city council and a host of celebrities.
Senior council officials say the 21-mile cycle track around the city is the best bet to become a major legacy of the 2012 Guild celebrations.
Mr Ward says NHS bosses have given their backing after being impressed by the Guild Wheel's potential health benefits. Nicky O'Connor, acting chief executive of NHS Central Lancashire, said: "Doctors are increasingly prescribing exercise, especially walking and cycling, for patients with health problems.
"Cycling, because it is generally non-load bearing, is especially beneficial for those with lower body joint problems and those overweight.
"In terms of health, recreation, and the environment the Guild Wheel will offer the city a world class facility.
It will give Preston something special to take pride in."
Tony Curtis, chief executive of Lancashire Teaching Hospitals NHS Foundation Trust, said: "We are delighted to throw our support behind the famous Preston Guild and the efforts to create a lasting legacy to remember the 2012 Guild.
"Not only will it create a scenic route for use by cyclists and walkers alike but it will help to promote increased physical activity and contribute towards the health of the people of Preston."
The circular route will be close to some of the city's most deprived ward areas, with the highest levels of sickness, including Larches, Brookfield and Ribbleton.
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