BOA attempting to fund shortfall
THE British Olympic Association are attempting to fill a �2million funding gap ahead of the start of the Games later this month.
Sales of the BOA’s official scarves have not been as high as predicted and although the gap, of between �1.7m and �2m will not affect Team GB, the organisation is looking at other revenue sources, in an attempt not to use up their reserves.
The BOA hope the scarves, and official team medallions, will pick up immediately before and during the Games.
Other income avenues include an offered grant of around �300,000 Lottery money from UK Sport to help cover costs associated with Team GB’s preparation camp; the National Lottery paying around half that sum for the rights to showcase their financial backing of successful British athletes.
A final possibility is the Government paying the BOA a sum to allow smaller firms who worked on or supplied the London 2012 building project to promote their involvement when the rights return to the BOA in January.
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A BOA spokesman said: “The programmes and funding necessary to support the largest British Olympic team in over a century with the best possible support are fully on-track.
“We are now entering the main sales period before the Games for our supporters’ scarf and medallions programme which is an opportunity for the British public to show their support for the team.
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“We hope that we will see stadia full of passionate British fans waving their Team GB scarves in support of the team as was demonstrated by the home crowd support for Andy Murray at Wimbledon on Sunday.”
Team GB at London will be made up of 542 athletes, and the cost will be �13million from the BOA’s total annual budget of �21million.