Boa Admits Team GB Faces Financial Crisis
Team GB could be in trouble ahead of the 2012 London Olympics, after it was revealed that the British Olympic Association (BOA) does not currently have enough money to fund the team.
The BOA will support around 550 athletes and 450 support staff at the Games, providing training, medical assistance, as well as a holding camp for the team.
The board members of the BOA were informed of the situation at an emergency meeting last week.
Funding for the association comes entirely from commercial sponsors and fundraising, and receives no government funding.
BOA chief Andy Hunt said: ‘We’ve still got a gap to close’.
‘I’m absolutely certain we will have a full team at the Games and the money will not affect that. The level to which we can support the team is where the challenge comes’.
The total cost of the BOA’s responsibilities is thought to be more than £5m, and are currently well short of that figure.
Former sports minister Richard Caborn said: ‘Tens of millions have been put into the British Olympic Association and really they have got to be looking at themselves and say ‘why have they got into this situation financially?’ and really they ought to be out on the road getting money in from the private sponsors, like everybody else is having to do’.
