Rachel Reeves hands Team GB £344m fillip for LA 2028 Olympics

Team GB’s Olympic and Paralympic athletes are set to receive the funding boost they have been calling for following yesterday’s Budget.

Chancellor Rachel Reeves has committed to giving UK Sport £86m a year, an increase of 10 per cent on the last cycle, in the lead-up to the LA 2028 Games.

UK Sport CEO Sally Munday called the move, worth £344m over four years, “incredibly welcome”.  

She added: “We are confident that the amount announced, alongside the excellent support provided by The National Lottery, will enable British athletes to pursue their ambitions at Milan Cortina 2026, LA 2028, and beyond. 

“It means that Olympic and Paralympic sports in the UK can deliver more extraordinary sporting moments like we proudly witnessed at the recent Paris Games.”

It comes after a survey revealed that up to 85 per cent would consider quitting their sports if funding did not increase.

Grants have fallen far behind inflation and the average full-time athlete receives less than £22,500 a year, according to the British Elite Athletes Association.

“Investment into Olympic and Paralympic sport is incredible value for money as it drives economic growth and inspires and unites people and communities across the country,” Munday added.

“The money invested into Olympic and Paralympic sport allows world class support to be provided to British athletes.

“This includes enabling investment into some of the best coaches, sports science and medicine in the world and contributes towards costs of training environments, camps, travel, accommodation, and entry into international competitions outside of the Olympic and Paralympic Games.

“It also enables over 1000 athletes across 50 sports to receive grants to contribute to their living costs.  

“I would like to place my thanks on record to the Government for the commitment and support they have shown to British Olympic and Paralympic sport and athletes today – it will make a real difference.”