2012 ties may hit elite sport funds

The government's chances of raising £100m to support elite British sport through private sponsorship are being threatened by competition from London 2012.

In February, the Department for Culture, Media and Sport (DCMS) announced that it intends to use private sponsorship to raise £100m of the £700m needed to support elite athletes in the UK.

London 2012 has been extremely successful in securing sponsorship deals, and a report by the National Audit Office claims this will make it harder for the DCMS to achieve its goal.

London 2012 has sealed high-profile tier-one domestic deals with Lloyds TSB, Adidas, EDF Energy, BT and British Airways. The London Organising Committee of the Olympic Games and Paralympic Games hopes to secure another four or five sponsors before starting tier two and three negotiations.

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