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Student athletes could be interested to hear the private sector is being approached to provide £100 million to fund potential Olympic Team GB athletes, it has been reported.

Team GB is facing budget cuts following the shortfall in sports funding that is threatening its preparations for the London Games in 2012, according to the Times.

Britain is currently in third place at the Beijing Games ahead of Australia, Germany and Russia following a spate of wins in sailing, cycling and rowing.

It is this which the government is hoping might lure businesses onboard through sponsorships as the nation is five places ahead of its initial target of coming eighth in the Games' medal table.

Hugh Robertson, the shadow sports minister, said: "It is vital that UK Sport gets that money now or elite programmes will be cut in the run-up to London 2012, and that is ridiculous."

According to the report, it is sports such as athletics, judo, fencing and shooting that will be hit most by the shortfall but others including swimming will also be affected.

So far in the Beijing Games, team GB have won 13 gold medals, including Rebecca Adlington's two swimming freestyle wins, seven silver and eight bronze.

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