March 24, 2004 – On behalf of the sport community, the Canadian Olympic Committee (COC) is pleased at today's announcement by Minister of State (Sport) Stan Keyes of an additional $10 million in new funding for amateur sport.

“This additional investment is a step in the right direction to help Canadian athletes represent Canada in international competition,” said COC President Michael Chambers. We believe that this additional money should go directly toward the Canadian senior and development carded athletes. With less than six years to go before Canada hosts the 2010 Olympic Winter Games in Vancouver, it is crucial that Canada invests in its high performance athletes so they can shine at their home Games.”

“We see this funding as a prudent down payment on future federal investments,” says Victor Lachance, Senior Leader of the Sport Matters Group, which represents more than 60 national and provincial sport leaders and organizations. “This new money for sport, coupled with the $20 million that was kept in place, is a welcomed contribution that keeps the sport and physical activity file moving forward.”

The COC and Sport Matters have been advocating for increased government investment in sport to move Canada closer to the spending levels of our major international competitors. The COC and other sport leaders have pledged to continue to advocate on behalf of the sport community for increased government funding for sport and physical activity.

“We look forward to collaborating with Minister Keyes on developing an action plan for future investment in high performance sport,” said Chambers. “Sport is an essential component of our culture that produces a significant return on investment in terms of reduced health care costs.”