Whitaker's long-term backer Graham Gillespie's business - Gillespie Investments Group (GIG), a Scottish-based regeneration company  - has agreed to back him to the tune of £500,000 in the build-up to the Games, Horse & Hound have reported.

Gillespie already owns a number of horses ridden by Michael, including Portofino, now called GIG Portofino.

Whitaker said: "This is brilliant news for me and my horses."

Whitaker was banned for four months by the International Equestrian Federation (FEI) last September after his stallion Tackeray tested positive for the active ingredient in Regu-mate - an altrenogest, a synthetic hormone - following, what he claimed, was a mix-up with feeds at La Baule on May 14.

Under the rules of the British Olympic Association (BOA) any competitor who is banned for a doping offence is ineligible to represent the country again in the Olympics, although they can appeal, which Whitaker is expected to do successfully.

His legal team is already working on an appeal to the BOA.

Whitaker has been selected for four Olympics and won a silver medal in the team event at the 1984 Los Angeles Olympics.

The 49-year-old Yorkshireman said: The Olympic ban does not bother me that much at the moment.

"You have to have the right horse and be going well at the time to go to the Olympics.

"But if I have a good horse [in 2012] and we are going well but I can't go, then I'll be angry."

Graham Gillespie told Horse & Hound: "2012 will be Michael's last shot at the Olympics and I want him to be able to focus on that, that's why I'm offering him this sponsorship.

"The last four months have changed him - he's been able to spend more time with his family and I'd like him to be able to continue to do that, rather than rushing from one show to another to make his living."


Related stories
September 2009: Whitaker London Olympic place in jeopardy after being found guilty of doping
September 2009: Date set for Whitaker doping hearing
June 2009: Exclusive - British star latest top rider to be banned