21 March 2008
Hopes that the Great Britain Olympic team will finish fourth in the 2012 Olympic medal table are already at risk because of the difficulties in raising the £100m needed to achieve such a goal.
A March 20 report by the National Audit Office, Preparing for success at the London 2012 Olympic and Paralympic Games and beyond, identifies risks to the plans, given the competing demands for private sponsorship.
National Audit Office head Tim Burr said: 'With four years to go until the London Olympic and Paralympic Games, elite athletes need to know what support they will receive for 2012. Clear targets also need to be set for the level of success to be achieved at the Games, with the substantial funding available.'
The Department for Culture, Media and Sport has met the Public Accounts Committee's recommendation to draw on specialist fundraising expertise to help raise the cash. However, the NAO is critical of the 16-month delay in the government's tendering for a fundraising partner.
PFmar2008
