The Canadian Olympic Committee (COC) announced Wednesday (Nov. 14) that it will be doubling funding over the next four-year period, providing close to $100 million in support for high-performance athletes through 2016.
COC president Marcel Aubut told media outlets Wednesday that the COC has spent just more than $50 million over the last four years.
The funding will include a “specific envelope” for the Pan American Games team that will act as host in Toronto in 2015, and “will be part of the 2013-2016 high-performance plan for athletes, coaches and national sport federations,” said a COC release.
“Athletes and coaches are at the center of everything we do. With this new funding, we are strengthening our sports system for today and tomorrow,” said Aubut in the release. “With the incredible support of our private sector marketing partners, we are set to redefine the trajectory of sport in this country. Together we are just beginning to write the next chapter of the Canadian Olympic Team story.”
Aubut said that nearly all of the funding comes from partners in the private sector.
“This announcement would not be possible without the unbelieveable support of Vanada’s corporate community,” he said on a Wednesday conference call.
Some national sport federation directors shared their pleasure over the news in Wednesday’s release.
“This is an historic announcement — one that will have a real, long-lasting, positive effect on national sport federations in Canada,” said Bobsleigh Canada Skeleton president Reid Morrison. “Every bit of support is so crucial to provide our athletes the resources they need to achieve their Olympic goals.”
Specific details about the funding breakdown were not available Wednesday, but will be unveiled in the coming months at various locations across the country, said the release.
Aubut also noted Wednesday that the federal government has announced its intention to continue funding through the Own the Podium program, which has contributed more than $50 million annually to elite-level Canadian athletes.
“(Own the podium funding) plus the $100 million will guarantee a bright and golden future for Canadian Olympic athletes,” said Aubut.