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U.K. Olympic Team Must Remain Fourth to Keep Funding, Times Says

July 23 (Bloomberg) -- The U.K. Olympics team needs to gain at least fourth place in the Olympic Games next year to maintain current annual funding levels, the London Times reported, citing U.K. Sports Minister Hugh Robertson.

If the team fails to deliver at the London event, it may lead to a reduction in the 120 million pounds ($195 million) of funding, the Times said.

To contact the reporter on this story: Jonathan Browning in London jbrowning9@bloomberg.net.

To contact the editor responsible for this story: Kenneth Wong at kwong11@bloomberg.net

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