Government provides 10% funding increase for LA 2028

Team GB won 14 gold, 22 silver and 29 bronze medals at the Paris 2024 Olympics

The government will provide a 10% increase in financial support for British Olympic and Paralympic athletes in the funding cycle for LA 2028.

Chancellor Rachel Reeves has pledged a total of £344m in funds for the period in Wednesday's Budget.

The Treasury said it will give "£9m a year extra to support hundreds of talented athletes across the country as they go for gold at the 2028 Olympic and Paralympic Games in Los Angeles".

It comes after the British Elite Athlete Association (BEAA) published a survey last week which said 64% of 189 athletes questioned would quit their careers if the money they receive did not improve.

UK Sport chief executive Sally Munday said the funding promise was "incredibly welcome" and "will make a real difference".

"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," Munday said.

"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."

The funding will also assist British athletes taking part in the 2026 Winter Olympics in Milan Cortina.

How will the money be spent?

It is understood UK Sport plans to announce the funding breakdown for specific sports for the LA 2028 cycle in December.

Munday acknowledged the money invested will enable British athletes to receive "world-class support" in the build-up to the Games in the United States.

She added: "This includes enabling investment into some of the best coaches, sports science and medicine in the world.

"[It will] contribute 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."

Athletes are also funded through National Lottery grants, called Athlete Performance Awards (APAs), which are intended to allow them to focus on their sport.

For the Paris 2024 cycle, the maximum APA was £28,000 per year. The BEAA estimated the average athlete earns less than £22,500 annually.