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British Olympic team sponsorship set to boost cash-strapped sports

The British Olympic Association will this morning reveal Visa as the major backer for ‘Team 2012′ following months of wrangling with athletes’ agents over image rights.

UK Sport was forced to cut £50 million from their 2012 budget last year and it’s hoped the new sponsorship will a small way towards plugging that gap, with industry experts valuing the deal between £6m and £10m.

Water polo, shooting, handball, volleyball, weightlifting, fencing and table tennis all saw their funding slashed from between 50 and 75 per-cent.

“Team 2012 will help ensure that as Olympians and Paralympians head toward London, they are properly resourced to do the job and make Britain proud,” said Lord Coe, chairman of London 2012 organisers Locog.