Brit gold worth £40m Olympic bonus

Britain's most successful Olympics since 1920 could lead to a £40 million windfall for the British Olympic Association.

Although National Lottery funding for elite athletes is likely to be cut because fewer tickets are being sold, the BOA are confident British industry will be prepared to increase their cash backing after the team spectacularly banished the memories of failure four years ago.

The disappointment of the Atlanta Games, where Britain won just one gold, meant the BOA failed to reach their funding targets from sponsors and corporate partners.

They raised £18m - £2m short of what they had hoped.

But it was that money which helped pay for the pre-Games preparation camp on Queensland's Gold Coast and the huge travel costs involved in flying the team's 321 athletes and nearly 300 support staff to Australia.

And while chiefs acknowledge the demands for Athens in 2004 will be far smaller, they are determined to cash in on the team's success.

Britain's magnificent performance in Sydney was capped at the weekend with gold medals for boxer Audley Harrison and Stephanie Cook in the modern pentathlon. It took Britain's tally to a remarkable 11 golds, 10 silvers and seven bronzes.

That magnificent total of 28 medals was three more than the target set by the UK Sports Council.

They are also hoping the medal haul will boost financial support for a potential London Olympic bid.

The BOA's deputy chef de mission Rod Carr insisted: "We believe there is a unique opportunity and that it is going to be a lot easier to raise money next time than it was this time around.

"The commercial value of the BOA and the Olympic rings is going to be so much higher.

"It's still far too early to say but the commercial value to the sponsors will have increased.

"Ultimately we only need to raise what is required to cover our programme, we are not a profit making organisation.

"And just because we double our funding from £20m to £40m it won't mean that we would automatically double our medal tally in Athens."

Yet while the BOA are hoping for a more secure future, Britain's athletes still face a cut in funding when they return from Sydney tomorrow.

According to some of the team's top stars, letters have already been sent out telling them that the amount they receive from next year will be reduced.

Five-times gold medallist Steve Redgrave revealed: "Rumour has it that the budget will be cut.

"If that happens it will be a big mistake. Funding needs to be long term.

"What we have done here is a good performance but there's no reason why we should be behind Australia, Italy and France in the medal table."

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