Hume said: "Following the announcement of funding for water polo through to London 2012, which resulted in a 75 per cent cut of planned investment for the sport, I have been giving my future and the future of the sport careful consideration.

"I have enjoyed my time with British Swimming and during the last six years the sport has made huge strides, the creation of a full time water polo programme based in Manchester has enabled the senior men and women's teams to train professionally for the first time in the sport's history.

"I hope my decision to step down will give the athletes the best possible chance of success for 2012."

 

Water polo was one of eight Olympic and four Paralympic sports that saw their 2012 plans thrown into doubt when Government plans to raise £100m in sponsorship from the private sector failed to raise a single penny.

 

That sum was halved to £50 million by additional raids on the National Lottery and Treasury, but the shortfall was still too great for UK Sport, the agency that distributes public funding, to meet its promises of "optimal" support for all in the run-up to London.

 

Water polo had only been receiving proper funding since London was awarded the 2012 Olympics.

 

Elite and development squads were assembled, coaches and support staff were hired and the programme was centralised in Manchester.

 

But the cut in funding in January to £1.45 million meant there was a £4 million shortfall in funding to help them prepare.

 

David Sparkes, the chief executive of British Swimming, said: "We are disappointed with Nick's decision to leave Water Polo at this time."

 

Sparkes had yesterday promised to do everything he could to ensure that water polo raised enough to field two teams at London 2012.

 

Writing for insidethegames he said: "One way or another, we will do it, I promise you of that."

 

Today Sparkes said: "Lack of funding for water polo is a big concern for all of us but we have been making good progress to address the issue. 

 

"For instance, the recent investment by British Gas will go some way to assist us with funding water polo.

"However, we respect Nick's decision and we wish him well with his career and thank him for his significant contribution."

 

Water polo is the third sport to lose its a key figure following the announcement in January of the cuts.

 

John Leighton-Dyson resigned last month as the performance director of British Shooting and last week British Volleyball axed Lorne Sawula, the coach of its women's team.