Colin Grannell, executive vice president and head of partnership marketing, Visa Europe said: “We are keen to assist British sportsmen and women at all levels, from grassroots and youth sport through to elite performance.

 

"This includes Visa’s sponsorship of the 2007 UK School Games and the support given to Team GB’s young athletes attending the 2007 Australian Youth Olympic Festival.

 

"In addition to our support of the BOA, Visa has been a TOP sponsor of the Olympic Games since 1986 and sponsor of the Paralympic Games since 2002, both of which are confirmed to continue through to at least London 2012.”

 

Simon Clegg, BOA Chief Executive, commented: “We are thrilled and proud that Visa UK has decided to increase their financial assistance to the BOA.

 

"Visa UK has been a great partner of the BOA and British athletes for many years and we are pleased that this agreement will take the support they offer a step further.

 

"For example, Team GB supported by Visa, last week succeeded in securing 13 gold medals and 47 medals in total, competing against some of the finest young Australian and Chinese athletes at the 2007 Australian Youth Olympic Festival.”

 

Sixteen year old Michael Gilligan, who won gold in shooting at the 2007 Australian Youth Olympic Festival (AYOF), added that the event was a valuable experience.

 

“I would like to thank Visa for supporting Team GB," he said. "This has been a great opportunity to take part in a highly competitive international tournament and I have proved to myself that I can compete at the highest level in international competition. Like many others my age, I dream of the opportunity of competing for Team GB at the London 2012 Olympic Games.”

 

Jose San Juan, managing director of Visa UK added: “The support from Visa UK and our member banks will help deliver the legacy vision that was so passionately articulated by Lord Coe when London won the bid back in 2005.

 

"Winning the bid was fantastic, not just for London but for the whole of the UK and I’m confident that the London 2012 Olympic Games and Paralympic Games will be hugely beneficial throughout the UK.

 

"London will be hosting a global event in a truly global city and, together with our UK member banks, we are keen to assist British Olympic athletes to reach their full sporting potential as they travel on the road to the Beijing and Vancouver Olympic Games and to London 2012."