Sir Mark Cavendish is now third favourite to win the BBC Sports Personality of the Year award in December.

After the Paris Olympics, 800 metres gold medallist Keely Hodgkinson has been installed as firm favourite to lift the prestigious award, sports betting community website OLBG stating her odds have been slashed to 4/11.

Teenage darts sensation Luke Littler is 9/2 with the bookies, while after his record-breaking final Tour de France Cav’s odds are currently listed as 10/1.

Fellow cyclist and Olympic mountain bike champion Tom Pidcock comes next at 18/1, with wheelchair tennis player Alfie Hewett completing the current top five at 25/1.

Cav, who previously won the BBC award in 2011, will be in the island this week for a special parade lap to honour his stellar professional career.

The Manxman, who won a record-breaking 35th Tour de France stage in July, will be returning to where it all began, the NSC Raceway, on Thursday lunchtime at 1pm.

The public are invited to attend the event, which is expected to last around half an hour.