Yachting New Zealand received "a substantial increase in funding from High Performance Sport New Zealand," according to SAIL WORLD. Yachting is a targeted Tier 1 sport by funder High Performance Sport NZ and has been "earmarked to receive" NZ$15.1M ($10.6M) from HPSNZ in core funding over the next four-year Olympic cycle. This is an increase from NZ$12.45M or 120% received over the last Olympic cycle. The funding levels are subject to review after two years and "can be increased or decreased depending on results two years out from the Olympics." Yachting and athletics were two of the four Tier 1 sports to receive an increase over the next two years. Yachting was one of the New Zealand "success stories" of the Rio Olympics, securing four medals. Yachting New Zealand CEO David Abercrombie said, "We believe it's in recognition of the great results in Rio and our conversion of Fast Track athletes into the Olympic program, the strength of the Aon Fast Track and youth programs and our talent identification program" (SAIL WORLD, 12/14). STUFF's Johnstone & Strang reported cycling, which "managed just one medal at the Rio Olympics," had its funding cut by NZ$500,000 ($351,700) from NZ$4.7M to NZ$4.2M, while rowing also "suffered" a NZ$200,000 ($140,700) cut. Two of the "hardest hit" sports were triathlon and swimming, which had their funding cut by NZ$500,000 and NZ$400,000 ($281,400) respectively. That equates to 40% of triathlon's budget "disappearing," and 30.8% for swimming. Athletics were "winners," securing tier 1 status and a NZ$525,000 ($369,300) funding "boost" over the next two years, while canoe racing also saw a NZ$475,000 ($334,100) increase in its funding in moving from tier 3 to tier 2 status (STUFF, 12/15).
