An estimated €2.4 million (£1.9 million) was invested in the most recent Olympics, and ISA estimates the annual cost to attain Olympic medal winning standard is €1.5million (£1.2 million) per year.  

 

Ireland campaigned in five Olympic classes for the most recent Olympics and qualified in four for the Games, sending six sailors and six support staff to Qingdao, where the sailing was held.

 

In comparison, Britain sent 18 sailors and 42 support staff, and competed in each of the eleven classes, at a cost of £22 million, funded by National Lottery funding and corporate sponsorship from financial services company Skandia and car manufacturer Volvo, who provide each of Britain's top sailors with a vehicle.

 

Colm Barrington, the chairman of the ISA Olympic Steering Group (OSG), said that the correlation between investing in top class sailors and Olympic success is in no doubt.

 

He said: “Team GB, one of the world’s greatest performing sailing teams, has invested in their elite sailors structured programme over the last thre Olympiad.

 

"Of the 47 medals won in Beijing, British sailing brought home six medals including four gold, one silver and one bronze."

 

Ireland, which have been competing in the Olympics as an indepedent country since the Paris Games in 1924, have only ever won one medal in sailing.

 

That was at the Moscow Olympics in 1980 when David Wilkins and James Wilkinson finished second in the Flying Dutchman class behind Spain's Alejandro Abascal Garcia and Miguel Noguer Castellvi.

 

Barrington wants to target the sailing events in 2012, which are due to be held at Weymouth and Portland, to extend that record.

 

He said: "Now is the time to increase investment, and while some of this may come from the [Irish] Sports Council, the current economic climate would suggest that such responsibilities will lie with the sailing community itself”.

 

Over the last three years, the OSG of the ISA has been stewarding Irish Olympic ambitions.

 

Since 2005, when London were awarded the 2012 Olympics, Games hopefuls have been taking part in the ISA Academy - a structured training programme that provides professional coaching and a managed progression from junior to Olympic level.

 

Hundreds of young sailors aspire to be chosen for the Academy programme which has had some demonstrable success with medals secured at youth level at world and European championships this summer.

 

To provide internationally competitive support and training, the OSG claim they need over €1.5 million additional funding per annum.

 

The OSG have engaged 2into3 Ltd - consultants who specialise in fundraising strategy - to examine potential long term funding streams to support Irish Olympic sailing success.

 

Harvey Duthie, a spokesman for 2into3, said: “The appointment of 2into3 underpins the OSG’s recognition of the potential opportunities in 2012 and their seriousness in terms of attracting the funding to realise Ireland’s sailing potential and ambition for the next Olympics."