• London Olympics 2012

Olympic budget spared as sport faces widespread cuts

London 2012's £9.3 billion budget remains intact © Getty Images

Enlarge

Related Links

• News: Hunt rejects medal targets for Team GB
  
• News: London organisers promise to fill stadiums
  

The London Olympic budget has escaped the axe but UK Sport has seen its budget cut by 28 percent as the Government announced its spending cuts on Wednesday.

Ahead of the Comprehensive Spending Review Olympics Minister Hugh Robertson had promised to fight to protect funding for elite athletes. But with most of the budget spent or committed to contracts, the London Games £9.3 billlion budget has emerged unscathed.

"The Spending Review maintains the public sector funding package at £9.3 billion, supporting delivery of a safe and successful Games," said chancellor George Osborne.

"The Olympic Delivery Authority has now completed over 70 per cent of the venues and infrastructure programme for the Games. As 2012 approaches, the nature of the Olympic programme will change, requiring swifter responses to remaining challenges."

Although UK Sport has seen its budget from 2011-15 cut by 28%, an extra £35 million will come from private sponsorship and National Lottery funding to make up the deficit, said UK Sport chief executive Liz Nicholl, who confirmed elite athlete funding would not be affected.

"This settlement represents a positive outcome in difficult times," said Nicholl. "While tough, it recognises that the funding and support we give to Olympic and Paralympic sport is a crucial element of the nation's London 2012 ambition.

"Ministers have been clear throughout the process that they see the continued support of sports and athletes through to London 2012 as a priority, and this reduction will not have any significant impact on our goals."

British Olympic Association (BOA) chairman Lord Moynihan also welcomed the news.

"In this difficult economic climate we welcome the Government's continued support for the key elements of the London 2012 Olympic Games programme," Moynihan said. "In particular, we strongly support the safeguarding of funding to the National Governing Bodies of Olympic sports and elite athletes through a combination of Exchequer and lottery funding.

"This funding is critical to the success of Team GB at London 2012. It will ensure athletes from across the UK are able to perform to the best of their ability and in doing so, inspire future generations of sport participants and act as a catalyst for national pride and unity.

"The BOA recognises that it is important now more than ever, for all stakeholders in sport to utilise resources in the most cost-effective way and we will continue to work with partners to deliver services to sports and athletes as efficiently as possible."

© ESPN Sports Media Ltd.