After conducting an independent public consultation, as well as a series of sessions with key stakeholders, UK Sport has announced a new 3-tiered funding strategy. Taking effect in April 2021, the new plan is aimed at channeling investment into different stages of the UK Performance Pathway in order to not only maximize medal success at the Paris 2024 and Los Angeles 2028 Olympic Games, but also develop future generations of athletes.
Per UK Sport’s announcement, the new funding tiers are as follows:
- Podium: Investment to athletes and teams with a realistic chance of an Olympic or Paralympic podium position within four years
- Podium Potential: Investment to athletes and teams with a realistic chance of an Olympic or Paralympic podium position within four to eight years
- Progression: Investment to enable sports and athletes to take the first step on the performance pathway
UK Sport Chair Dame Katherine Grainger said, “As an investor of significant public funds, it is right UK Sport should ask the general public whether we should continue aiming to inspire the nation through medal success and whether we could change our focus in any way.
“The findings have allowed us to create an exciting blueprint for the future of Olympic and Paralympic sport in the UK and put the athlete at the heart of everything we do.
“We are confident the new strategy will help sustain medal success while enabling more communities to be inspired by the power of high performance sport.”
Minister for Sport Mims Davies MP said, “This new strategy will further support our phenomenal athletes to deliver world-class performances, while using their success to inspire more people and communities across the country.
“We know that both our Paralympic and Olympic heroes play a huge role in helping to make the nation proud. This bold and exciting vision, that has been shaped by the public, will continue to strengthen our reputation as an Olympic and Paralympic powerhouse at Tokyo 2020 and beyond.”
Paris is 2024 and Los Angeles is 2028.