Olympic chief Lord Moynihan dips into his pockets to keep training programme running

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Olympic chief Lord Moynihan had to lend the British Olympic Association £250,000 of his own money to fund its high-performance programme for elite athletes.

Sir Clive Woodward, the former England rugby chief who is now the BOA's elite performance director, is pioneering the innovative scheme that involves using specialists in areas such as nutrition to give British athletes the necessary competitive edge.

His training programme is regarded as vital in achieving the ambitious target of Britain finishing fourth in the medals table at the 2012 Games in London.

However, newly released accounts for the BOA for 2007 show a loss of £1.3million.

BOA chairman Lord Moynihan said: 'I provided an interest-free loan to enable the sports performance experts, working under Sir Clive, to be contracted.

'This is my personal endorsement of what I see as one of the world's most exciting sports programmes.'

He added that the £1.3million loss was in line with expectations.