Following on from UK Sport’s decision to reverse British Basketball’s funding cut, the amount they will receive in the Rio 2016 Olympic cycle has now been confirmed; £7,039,840.
Over the previous Olympic cycle, GB received £8,599,000, meaning ultimately they have seen a reduction of just £1.5million; a huge climbdown from UK Sport’s initial decision to award nothing.
The money comes on a one year conditional basis with the following three years’ funding released only on the fulfilment of strict performance criteria; strong performances at this summer’s Eurobasket are of paramount importance.
Publicly, it remains unclear exactly how much will be available in the first year, but it means that GB now know the exact amount they have to work with and can now move forward with the hiring of coaches and staff in preparation for the summer.
British Basketball are yet to release a statement.
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Source:
http://www.hoopsfix.com/2013/03/british-basketball-to-receive-7m-uk-sport-funding/
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