UK Sport announce funding allocation for London Olympics

Funding Announcement

Today a total of £292 million funding allocation has been confirmed by Uk Sport to British Olympic and Paralympic sports ahead of London 2012. The decision had been awaited with some trepidation due to the current economic uncertainty.

Rowing has been awarded an increase of 5.5%, meaning it is now Britain’s best funded Olympic sport with £27.5m. The funding decisions were made on the basis of UK Sport’s successful ‘no compromise’ strategy – with resources primarily being targetted at sports and athletes most likely to win medals.  The aim is to ensure that every athlete supported is able to get to the Olympics or Paralympics in the knowledge that they are as best prepared as they can possibly be.

Cycling will recieve £26.92m, whilst basketball, hockey, archery and synchronised swimming also saw huge jumps in their funding.

Full story can be read at UK Sport website