Boa’s Moynihan Sets Funding Deadline For Woodward

Newly re-elected British Olympic Association chairman Lord Moynihan has imposed a deadline of the end of this year to find funding for Sir Clive Woodward’s coaching academy for elite athletes aimed at ensuring success at the London 2012 Olympics.

A final decision on whether elite performance director Woodward can go ahead with his planned Olympic coaching academy will be taken by the end of the year with the project believed to cost in the region of £15m.

The BOA has been looking to find an investor or sponsor to fund the project but has thus far failed to attract a backer.

The scheme, which has also received backing from UK Sport’s Mission 2012 programme, would identify coaches of potential gold medallists who are in need of support and help them emulate best practice from across the world.

It is understood that Woodward will not resign if the funding cannot be raised, but will attempt to use some aspects of the scheme on a limited basis.

Moynihan, who was re-elected as BOA Chairman after standing unopposed for the post, also stated that proposals to cut costs on the £1bn Olympic Village to house the athletes for the 2012 Games would be studied ‘very carefully’ before they are agreed.

Talks on a deal to build the Village will be allowed to stretch past the original Christmas deadline due to the financial crisis, the Government has announced.

Moynihan said the affect of the global credit crunch had hampered their ability to attract private-sector investment – but that the quality of the Games would not be sacrificed.

The BOA have to sign off any major changes to London’s plans and the proposal to reduce the size of the village further, from 3,300 apartments to 2,700, will be the main topic for this week’s Olympic Board meeting.

It was revealed last week that £95m of contingency funds has been released to the Olympic Delivery Authority to allow work on the Village to continue.