, which is sponsored by Swedish-based gambling firm , has been banned from the iconic cycling event because French law bans foreign-owned gambling companies from endorsing sports teams.
Unibet has described the decision as a "scandal", criticising how two of the main sponsors for this year's race, which has its opening stage in London, are horseracing betting firm Pari Mutuel Urbain and French lottery operators La Francaise des Jeux.
In a further blow to Green Cycle Team's hopes, rival Belgian cycling team Predictor-Lotto are sponsored by the Belgian national lottery.
Green Cycle Team, which features former British road race champion Jeremy Hunt, has now had to withdraw from the competition after Tour de France organisers ruled that Unibet contravened its sponsorship rules.
The team were allowed to compete in France earlier this year, despite being sponsored by Unibet, on the proviso that the sponsor's logos were removed from all of the team's clothing and equipment.
However, despite the EU Commission for Internal Market and Services branding the decision to restrict Green Cycle Team's entry as illegal, the team has since been told it cannot compete in this year's race.
Green Cycle Team were banned from competing in two events in Belgium in April by Amaury Sports Organisation, which organises Tour de France, and is currently suing the race organisers for around $7m.
It is understood that Unibet and Green Cycle Team have not given up hope of competing in this year's event, which begins on July 7, and will continue to lobby the event organisers to be reinstated.
Jacque Hanegraaf, director of Green Cycle Team, said: "We have not given up yet, and for the team taking part in the event is the most important thing, even if it means the loss of our corporate identity, but we should not have to do that."
Inga Lundberg, spokeswoman for Green Cycle Team, added: "This whole situation is a scandal. For Jeremy not to be able to compete when the tour is in his own country would be a real shame for him. We really hope that the tour organisers will change their minds, but just don't know what will happen."
Unibet, which could not be contacted for comment, also sponsors the Swedish Cycling Federation.