The investment will support Britain’s elite Olympic and Paralympic athletes and UK Sport has distributed the money based on whether the sports met their medal target at the highly successful London 2012 Olympics.
Boxing has been rewarded with a funding rise from £9.5m to £13.8m, after British boxers won five medals from a 10-strong squad in London – Nicola Adams, Luke Campbell and Anthony Joshua all winning gold.
Water polo’s funding has increased from £2.9m to £4.5m, despite not delivering a medal at London 2012. However handball, basketball, table tennis and wrestling have lost all financial support. In addition, five sports have had their budget cut, including swimming, which only supplied three medals at London 2012.
The Paralympic proportion of the overall funding has grown from 16 to 20 per cent with the successful swimming, athletics and cycling receiving the largest grants.
WINNERS AND LOSERS
■ WINNERS: Water Polo (£2.9m to £4.5m); Boxing (£9.6m to £13.8m); Taekwondo (£4.8m to £6.9m); Gymnastics (£10.8m to £14.5m); Equestrian (£13.4m to £17.9m)
■ LOSERS: Volleyball (£3.5m to £0.4m); Basketball (£8.6m to £0); Handball (£2.9m to £0); Table Tennis (£1.2m to £0); Wrestling (£1.4m to £0)