Credit crunching

The parents of a 2012 Olympic hopeful are remortgaging their home
to help their son fulfill his dream. The revelation comes as a new report shows
parents are forking out thousands of pounds a year to help realize their
children’s Olympic aspirations.

The true cost of getting youngsters to perform at top-level sports was published today. It is thought the average parent in East Anglia spends £535 a year on kit, competitions and transport.

Expenses increase dramatically for high achievers and there are fears that
is holding future champions back.

Nic Evans, of West Mersea, Essex, said he was remortgaging his house to
fund his son Martin’s sailing career. The 16-year-old is tipped as one of
the hopefuls for London 2012 and is about to enter the Laser Standard Class –
the men’s Olympic Laser category. It has cost his parents about £10,000 this year.

The Gazette, full story: