A vocal critic in recent years of varying subject matters relating to his former team, Wiggins believes "If Sky does go, I think the sport will be worse off for it.”
Team Sky faces an uncertain future after the news was announced last week the broadcasting company would walk away from the sport at the end of 2019.
"They'll go and I said to someone last week be careful what you wish for," Wiggins said "coz if Sky do go now, I think the sport will be worse off for it...and the sport may just sort of...not disintegrate (but) maybe won't have the profile now it's enjoyed the last years.
"It'd be like a football club shutting down and doing away with the stadium and putting up an Asda.
"In cycling when a sponsor goes and a sponsor as big as Sky which put so much into cycling and done so much for cycling as well...they should be thanked really."
And Wiggins can't see his former boss replacing Sky's mega budget.
"For the level (Sky has) helped obviously with other things.. Dave Brailsford and the athletes they've had and that kind of generation of cyclists that took it up. Sky played a huge part in that, and what they did and the investment...the amount of money they've put in over the last 10 years.
"It's incredible really. The timing of that...with the generation of cyclists and what Dave wanted to do I think it's been...we may never ever see it again.
"I can't ever envisage them getting a sponsor like Sky...to replace them in order to carry on and over the wage bill and the budget for the next years is going to be quite a tough thing.
"This was always going to happen. The sport's so backwards in so many ways the people that run it it's so backward in so mnay ways...there's no money in the sport really..sponsors of teh sport aside from sky ratehr than be grateful for a company coming into cycling but people just hammer it..