Tier One Funding for Olympic Yachting confirmed by HPSNZ

Tier One Funding for Olympic Yachting confirmed by HPSNZ

High Performance Sport New Zealand (HPSNZ) yesterday announced an $11.2 million dollar investment in yachting over the coming four years to support Yachting New Zealand’s 2013-2016 Olympic Programme.

HPSNZ now recognises yachting as one of three ‘tier one targeted sports’ alongside rowing and cycling and this is a reflection of our 2012 Olympic results. The $11.2 million dollar budget for the 2013-2016 four year cycle marks a $1.1 million dollar increase on the $10.1 million dollar investment from HPSNZ for the 2009-2012 campaign.

The funding announcement comes after HPSNZ’s consideration of Yachting New Zealand’s 2013-2016 Olympic Plan which includes campaign planning, training, coaching and logistics around World Championship Regattas, ISAF Sailing World Cup Regattas and ultimately the 2016 Rio Olympic Games.

The level of investment confirmed by HPSNZ means that Yachting New Zealand must now address whether some aspects of the 2013-2016 Olympic Plan can be scaled back without compromising on medal targets.

“Yachting New Zealand is grateful for the investment in Olympic yachting announced by HPSNZ, and appreciates that HPSNZ have a tough job when determining how to allocate the limited fund available to high performance sport” says David Abercrombie, Yachting New Zealand Chief Executive. “With this investment confirmed for yachting we will now go back to our plan and re-prioritise our program for the coming Olympic cycle.”

“Kiwi athletes performing on the world stage makes us all very proud. Yachting delivered some magic moments in 2012 with Olympic gold from Jo Aleh and Polly Powrie in the Women’s 470, and Olympic silver from Peter Burling and Blair Tuke in the 49er,” continues Mr Abercrombie.

“We do recognise that this is a substantial investment of public money; some of our rival nations have much bigger budgets, but in New Zealand we know we have to continue to campaign wisely and get more bang for buck. We brought home two medals this year, and we are committed to doing it all again in 2016,” says Mr Abercrombie.

On-going consultation through an annual review process with HPSNZ will ensure Yachting New Zealand is on track to deliver on our targets.

As Yachting New Zealand now gets down to business with the forthcoming Olympic program we recognise the significant role that all our high performance partners play and say thank you, not just to HPSNZ but also to Maersk Line, Oceanbridge and SLAM for their on-going support in our quest for international success.

Since 1956 yachting has returned a total of eighteen Olympic medals to New Zealand including eight gold, and five apiece silver and bronze.

2012’s two medals represented many milestones including unprecedented results from women’s double-handed dinghy sailing and men’s skiff sailing for this nation. The sport’s latest Olympic medallists have quickly stepped up as role models for yachting’s future stars getting out and about to inspire the next generation.

ENDS

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