Budget welcomed

The RYA are pleased about the increased funding for 2012 set out in the budget today

The Royal Yachting Association (RYA) joins the British Olympic Association and UK Sport in applauding additional government funding for sport to ensure British success at the London 2012 Olympic Games, announced in today's Budget Statement.

Sailing is Great Britain's most successful Olympic sport, and Britain is the most successful sailing nation in Olympic history. Rod Carr, RYA CEO, had previously expressed concern at the lack of commitment towards additional funding in December's pre-budget statement, but has today welcomed Gordon Brown's news, which sees a further £300m - £200m of public money and £100m in sponsorship from the private sector - committed to delivering success at the London 2012 Olympic Games.

"This financial support is brilliant news, and we're relieved and delighted the government has recognised the longer-term and wider benefits that the 2012 Olympic opportunity brings about by committing to these additional resources," explained Carr.

"This will give Team GB a real chance to come fourth in the medal table for 2012, although I'm intrigued to know how the extra £100m from sponsorship will be raised, given the commercial limitations brought about by the new Olympic Bill."

RYA Performance Director John Derbyshire added: "This announcement of additional funding will enable more younger sailors to move through the performance programme, to challenge for places in 2012 and enhance British sailing's medal prospects."