LONDON, Dec 1: British Olympic Association chairman Colin Moynihan is concerned that funding cuts expected this week will hamper the country’s chances of winning medals at the London 2012 Games.

The global financial crisis has resulted in a shortfall of about 100 million pounds ($150 million) of private funding for the British team, which was targeting fourth place in the medals table after finishing fourth in Beijing this year.

Although sales of lottery tickets have trimmed the gap to 79 million pounds ($118.2 million), Moynihan is concerned that Britain will only have funds to target eighth place.

Prime Minister Gordon Brown had offered Olympic sports 600 million pounds ($897 million) over six years from 2006, but that included 100 million ($150 million) of private money, which has dried up during the financial crisis.

“We will be deeply disappointed this week if the Government moves away from their commitment,” Moynihan said. The best UK Sport and the BOA can hope for may be that the government offers an extra 20 million pounds ($29.9 million; euro23.7 million), leaving them with the budget they had previously specified as necessary to target eighth in the medals standings.—AP