Funding Allocations Revealed For London 2012

The funding allocations for all the Olympic sports ahead of London 2012 have been unveiled with basketball getting the biggest percentage increase and financing for eight sports remaining unconfirmed from the revised budget of £550m.

Despite the projected £600m budget for Olympic sports funding not being reached due to a shortfall in investment from the private sector, the allocation figures for the 28 sports are still an increase on what was invested for the Beijing cycle.

Basketball, synchronised swimming, taekwondo, boxing, archery and hockey are the big winners in the Olympic 2012 funding programme announced by distribution body UK Sport.

All six have received sizeable increases in their budgets ahead of London, with basketball getting a huge 136% increase, up from £3.7m to £8.7m.

Rowing is the best funded Olympic sport as it will be handed £27.47m over the next four years.

Following its success in Beijing, where it won 14 medals, including eight golds, cycling has received a 21% increase in funding, up to £26.9m from £22.1m.

However two sports – athletics and badminton – have suffered a cut in their funding following poor showings in Beijing.

The athletics budget drops from £26.5m to £25.1m over the next four years, while badminton also has a slight cut in its spending, from £8.76m to £8.63m.

The other big losers from the announcement include shooting, table tennis, handball and fencing.

Along with volleyball, water polo, weightlifting and wrestling – plus four Paralympic sports – they have yet to have their individual funding allocations confirmed.

But, as it stands, they will share £12.5m between them, although UK Sport says it will work with each sport to help identify further funding, both from private investment and from other potential sources of income.

Despite the fact that 17 sports will enjoy increases, the announcement has prompted an angry reaction from British Olympic Association chief executive Andy Hunt.

‘It is disappointing that, despite extensive lobbying, we find ourselves in the position now, just three months after the most successful Olympic Games for Great Britain in 100 years, where the government has failed to honour their funding promise.

‘For those sports that have learnt that they face an uncertain financial future, two years of planning and investment has been thrown up in the air.

‘As host nation in 2012, all our sports are effectively pre-qualified to compete which is why it is so disheartening that such a unique opportunity for our athletes to be a part of a home Olympic Games is now uncertain.

‘A legacy for sport and young people was the foundation of London’s bid and the government recognised this through their £600m commitment. Thus the BOA is very disappointed that they have now fallen short of that pledge.’

UK Sport insists the level of funding builds on the £265m that was provided ahead of the Beijing Games and enables Britain to target a top-four finish in the medals table in London.

Team GB finished fourth in the medals table in Beijing, exceeding expectations by landing 19 golds. China were top with 51 golds, followed by the USA (36) and Russia (23).

At the Paralympics, Team GB claimed 42 golds to finish in second place in the table, 47 behind the hosts.