Team GB facing financial crisis

The British Olympic Association does not currently have enough money to fund the GB team at the 2012 London Olympics, BBC Sport understands.

An emergency meeting was held last week at which BOA board members were informed about the situation.

The BOA will support about 550 athletes and 1,400 support staff in London, providing training advice, medical assistance and a holding camp.

"We've still got a gap to close," BOA chief Andy Hunt told BBC Sport.

"I'm absolutely certain we will have a full team at the Games and the money will not affect that.

"The level to which we can support the team is where the challenge comes."

Funding for the BOA comes entirely from commercial sponsorship and fundraising, as it does not receive any money from the government.

The cost of the BOA's responsibilities, which will include the Team GB holding camp in Loughborough, is expected to be "well in excess of £5m" - and there is a shortfall of several million.

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Certainly not good news at the moment, whats your thoughts on this?