2016 Rio Olympics logo (File)
Cape Town - The National Lotteries Commission (NLC) has allocated R70 million to South African Sports Confederation and Olympic Committee (SASCOC) and the South Africa Rio Olympic team.
SASCOC President Gideon Sam addressed the media on Wednesday and announced that R70 million will be given to SASCOC and Team South Africa by their new sponsorship with the NLC.
Sam said that they (SASCOC) were beginning to panic over their funding issue, however now with adequate funding, they could go to Rio confidently.
He believes that with the help of the sponsorship money and the talent displayed by our athletes, he is certain that South Africa will come back home from Rio with medallions, for prize keeping.
"SASCOC would like to thank the National Lotteries Commission for the huge sponsorship they have contributed to Team SA," said Sam. "The public's support is also appreciated because the money they use to purchase lotto tickets go a long way towards supporting Team SA and adding to their success."
Blitzbokke wing Philip Snyman, who led the team during the Paris leg of the World Rugby Seven Series, thanked the NLC on behalf of all the South African athletes participating in the tournament.
The final Olympic Games team will be announced on July 14, while the Paralympic Games team will be announced prior to that on July 6.
The Rio Olympics will take begin from August 5–21, while the Paralympic Games is set to begin September 7-18.