Wednesday was a big day for Team CSC Saxo Bank's Olympic riders, when Fabian Cancellara (Switzerland) took the Gold Medal in the time trial ahead of teammate Gustav Larsson (Sweden).

It was a cliffhanger of a battle between the two Team CSC Saxo Bank riders and Astana's Alberto Contador (Spain) as the three took turns leading throughout the race.

Cancellara ended up crossing the finish line 33 seconds ahead of Larsson, while Contador's teammate Levi Leipheimer (USA) took the Bronze Medal.

”It was a world class performance by our guys today and I'm very proud and happy on their behalf. Fabian lived up to his status as a favorite in the most fantastic way and Gustav performed amazingly as well. To take both the Gold and Silver in a discipline, where you're up against the very best in the world is huge. And I also think that Chris Anker should be pleased with his top-20 spot. He's very strong at the moment," said CSC - Saxo Bank team manager Bjarne Riis afterwards and continued:

"I know that Fabian has been working his way towards this time trial for a very long time and we've been happy to assist him in fulfilling his dream of a Gold Medal. In my opinion he's the best time trial rider in the entire history of cycling sport and when you consider all the other results he achieves you've gotta respect the guy and admit that Fabian Cancellara is absolutely fantastic!"

Team CSC Saxo Bank's Swiss tempo phenomenon Fabian Cancellara is double time trial World Champion and last year he laid the foundation for seven days in yellow during Tour de France with a strong prologue in London. If you also add a string of other victories in various races Cancellara has almost come full circle within the time trial discipline. All he really needed was an Olympic Gold Medal......up until this Wednesday afternoon in Beijing.

"It was a perfect day. Everything came together for me. I've been preparing for this as well as I possibly could and I've sacrificed a lot to get here, so I didn't have any excuses in case it didn't work out today. Now I'll finally be able to return home with both a Gold and a Bronze Medal," said a relieved and happy Cancellara.

Although Cancellara was beat twice by Stefan Schumacher during Tour de France the bookmakers all agreed on the fact that the defending World Champ was the main favorite on Wednesday, and as it turned out it only took him one lap for to catch up with Schumacher, who had started a minute and a half ahead of Team CSC Saxo Bank's Swiss rider.

"I knew that many saw me as the favorite and that can sometimes be hard, so I'm definitely proud of my performance. Of course it gave an extra boost to catch up to Schumacher, but I had my own agenda so it didn't change anything as far as my approach went," continued Cancellara.

One of the sacrifices Cancellara has made in order to reach his goal has been not seeing his family much this summer, because he had to leave for China together with a Swiss marathon runner right after Tour de France.

"By going to Beijing early I gave myself the chance to get over my jetlag properly and relax mentally before embarking on the final preparations. But I would never have been able to do this without all the support from both my family, Team CSC Saxo Bank and all the Swiss fans down here," concluded Cancellara.

Cadel Evans improved on his showing in the road race but was still no match for Cancellara. Evans told ABC News that he spend a lot of time with medical specialists to cure his knee. "If you are 14 seconds short of a medal you can ask yourself if this didn't keep you away from the podium," Evans said. The runner-up of the 2007 and 2008 Tour de France said he will not need surgery to heal his injured knee. Earlier Evans said he will not take part in this years World Championships.