Canadian government increases funding floor for sport

By Published On: February 25th, 2005Comments Off on Canadian government increases funding floor for sport

Canadian government increases funding floor for sport{mosimage}CALGARY (Alberta), February 24, 2005 – Minister of Finance, Ralph Goodale, unveiled the 2005 federal budget on Wednesday, announcing that the funding for Sport Canada will now total $140 million. Alpine Canada Alpin welcomed this recent announcement as it will create a more responsive system that will better meet the needs of Canada’s athletes and coaches while offering them the support they need towards and beyond 2010.

According to the announced budget, the $70 million funding increase will account for $65 million annually in support of Canada’s elite athletes-including funding to respond to the recommendations of the Own the Podium report, and $5 million per year over the next five years for sport participation
initiatives.

The budget also provides an additional $87 million in funding for the Vancouver-Whistler Olympic and Paralympic Winter Games.

Subsequent to the presentation of the 2005 Budget, the federal minister responsible for sports, Stephen Owen, confirmed to Ken Read, President of Alpine Canada Alpin, that the initial funding floor for sports set at $70 million was now increased to $ 140 million.

“This is exceptionally good news,” affirmed Read who is an active member of the Own the Podium steering committee. “I congratulate the minister for having succeeded in increasing the funding granted to Sport Canada, and most importantly, for having doubled the initial funding floor granted to sports.”

“By doing so, the government has recognized the importance of implementing a long term strategy which supports the objectives set by our nation’s sport community and embraces the ideals proposed by the Own the Podium winter sport initiative,” added Read.

“With the increase of the funding floor in sports, the federal government is also sending a strong message to the millions of Canadians and the thousands of corporate citizens,” complemented Read.

“Alpine Canada Alpin enjoys the support of key corporate players who have recognized the importance of investing in sports and excellence within Canada,” affirmed Read. “Large corporations such as CIBC and Pontiac GMC have been members of our team for years. More recently, TELUS joined on board to support both the Canadian Alpine Ski Team and the Canadian Disabled Alpine Ski Team. Husky Energy, Spyder and MARS are also among the many important sponsors who support Canadian ski racing,” said Read.

In the spirit of becoming a world-leading nation in alpine ski racing by 2010, Alpine Canada Alpin is looking to attract new sponsors and launch fundraising initiatives to find $2-3 million more annually.

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About the Author: Pete Rugh