The Royal Yachting Association is to receive £300,000 extra funding from UK Sport because of the financial impact of the coronavirus pandemic.
UK Sport has confirmed it will grant more than £1.38million in extra funding to help ten national governing bodies (NGBs) struggling because of the financial impact of the coronavirus pandemic.
The money will be distributed between ten sports who applied for assistance from UK Sport’s Continuity Fund.
British Cycling is set to receive the most funding at £500,000, with the RYA receiving £300,000 ($399,000/€337,000) the second highest amount.
It is the first round of contributions from the Fund, which was set up by UK Sport specifically to help mitigate the adverse impact of Covid-19 on the operational and financial health of NGBs.
Sally Munday, CEO of UK Sport, said: “Our priority is to ensure the long-term health of Olympic and Paralympic sport and minimise the negative impact of the pandemic.”
The following NGBs have received grant support via the Continuity Fund:
● British Cycling – £500,000
● Royal Yachting Association – £300,000
● British Basketball Federation – £180,000
● Archery GB – £110,000
● England Hockey – £90,000
● British Judo – £86,000
● Goalball UK – £35,000
● British Fencing – £33,000
● British Weightlifting – £30,000
● Pentathlon GB – £22,000
It is expected that there will be a second round of funding and applications for this will open in the coming months.
This will allow sports to assess the longer term implications of the Covid-19 pandemic and approach UK Sport for support via the Continuity Fund in due course.
The RYA received £25,757,417 from UK Sport to cover the Tokyo Olympic Funding cycle.