Adams, a 59-year-old Canadian real-estate billionaire who emigrated to Israel two years ago, was instrumental in bringing the Giro d’Italia to Israel for its start. He has invested heavily in the first Olympic velodrome in the Middle East, which is scheduled to open later this year.

“The new track will help bring countries together,” said Adams, who watched riders test out the new track earlier this month with “tears in my eyes” as he took the first lap around the arena.

The Sylvan Adams Velodrome in Tel Aviv is expected to host the 2021 World Junior Track Championships.

The venue will meet the Olympic standards of 250 metres in circumference and aims to develop and promote competitive and recreational cycling in Israel. With 45 degree bankings and short straights, the venue will cost £14m. The project required 900 tons of steel and 100,000 screws.

Due for completion in September, the building will seat 620 people and will include doctors’ offices, dressing rooms, drug – testing areas and storage facilities.