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The National Lottery will fund the newly launched Olympic Legacy Trust to the tune of £34m out of a budget of £40m.
The aim of the Legacy Trust is to promote culture and sport among young people and communities. It was launched at the City of London by the recently appointed board chaired by Dugald Mackie and supported by Olympics Minister Tessa Jowell, Secretary of State for Culture, Media and Sport, James Purnell, and Stephen Dunmore, Chief Executive of the Big Lottery Fund.
This additional use of £34m of lottery funding is on top of money already raided from the National Lottery to fund the 2012 Olympics.
Where is the £40m coming from?
This - and other funds that the Trust will raise from other public and philanthropic sources - will be used to support cultural, artistic, educational and sporting activities that celebrate the 2012 Games.
The Trust is planning to fund a wide range of national and regional programmes with key themes shaping of culture, knowledge and sport, with a strong emphasis on the involvement of young people. Currently there are plans for projects that benefit the whole UK, including £6million for the UK School Games. The rest of the money will be allocated to specific projects via the three nations and nine English regions of the UK.
The Trust will form partnerships with organisations that will attract additional match funding to deliver Legacy Trust supported programmes. This approach was central to the successful application to create the Trust submitted by a consortium led by the City of London.
The Trust will co-ordinate its work with that of the London Organising Committee of the Olympic and Paralympic Games (LOCOG). It is expected that many of the projects that the Trust funds will be eligible for inclusion in the programme for the Cultural Olympiad, which is a key element of the 2012 Games.
Olympics Minister Tessa Jowell said "When we bid for London to host the 2012 Olympic and Paralympic Games, we bid on behalf of the whole country. I am absolutely determined that the benefits of hosting the Games are spread right across every nation and region of the UK. Legacy Trust UK will help make that happen, by giving out £40 million to cultural, artistic, educational and sporting activities that celebrate the 2012 Games.
"Some will be national projects, like the UK School Games. Others will be local, with each region and nation deciding what works best for them. But all will use 2012 as a catalyst to improve lives around the country."
Stephen Dunmore Chief Executive of the Big Lottery Fund said: “The Big Lottery Fund is delighted to be supporting the Trust to develop inspirational projects in each nation and region of the UK. The funding will allow the Legacy Trust to play a significant role in ensuring that people across the UK are able to take part in activities that embody the spirit of the 2012 Games and generate a lasting impact on communities.”
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