SPORTS leaders said that Britain’s hopes of reaching fourth place in the medals table at the London Olympics were damaged yesterday when the Government failed to declare any rise in funding for athletes preparing for the 2012 Games.

The British Olympic Association (BOA) said that the lack of the expected details was “devastating news” for national governing bodies wanting to plan budgets for the next seven years.

Tessa Jowell, the Olympics Minister, is understood to have been lobbying the Treasury for assurances on the money that will become available for the preparation of competitors.

Instead, the Chancellor repeated his announcement of a year ago of the setting up of a national sports foundation, but without giving any details.

The BOA has been seeking up to £100 million a year for a 720-strong team across all 26 sports included in the Olympics. At present the figure is about £48 million.

Simon Clegg, the BOA chief executive, said that the present situation was “like entering an Olympic race with one hand tied behind our back . . . This is because of the lack of understanding that the period of time for preparation is so short if we are to aspire to success. Every day that we lose now is vital.”

Mr Clegg said that if Britain is to reach its hoped-for fourth place in the medals table in 2012, the highest likely position behind China, the United States and Russia, it needs “sustained and consistent funding”. He said: “We will now have lost ten months in the 85-month period until the Games.”

The situation will be discussed tonight at a dinner in London attended by officials of all the Olympic sports.

David Sparkes, chief executive of the Amateur Swimming Association, said: “We are arguably too late already. We need cash in the bank by April 2006 at the very latest because we need to start recruiting the best foreign coaches.”

Brian Stocks, the president of British Gymnastics, said he was “astounded” at the lack of news.

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