Olympics: Government Banks on Medal Winners

The government is to ask the private sector to make good the £100m shortfall in athletes' funding ahead of the London 2012 Olympics.

Andy Burnham, the culture secretary, and Tessa Jowell, the Olympics minister, sought to allay concerns within Games sports that they faced a funding cut, announcing details of a national sponsorship scheme called Medal Hopes.

The proposal is to sell access to British athletes as they prepare for London 2012 to local, regional and national sponsors. It will also examine the sale of post-Games naming rights to the new venues that are being constructed.

Burnham said £21m had already been identified in savings, leaving £79m to be raised by the new scheme. "It's a £79m challenge. We have the best possible springboard and momentum from Beijing and I am absolutely confident we will realize this goal," he said.