A major rejuvenation of the high performance sport structure in New Zealand will aim to help New Zealand's elite athletes achieve consistent success on the world stage, Prime Minister John Key said today.

Making the announcement with Sport and Recreation Minister Murray McCully at the Millennium Institute of Sport and Health, Mr Key says the changes to the high performance structure will give New Zealand athletes the resources and support to achieve their goals.

"New Zealand is home to world-class athletes from a variety of sporting codes. Our goals is to help those athletes become world-beaters and, to do that, we need to be able to provide the very best technology, support and facilities."

At the heart of the revamp is the establishment of a new High Performance Institute within SPARC, which will oversee Government investment in elite sport and foster an uncompromising culture of excellence, says Mr Key.

"In addition, the Government will be putting $15 million towards the $40 million expansion of the Millennium Institute, which will become the National Training Centre for High Performance Sport.

"This is a major boost for our athletes and for New Zealand's sporting tradition, and we believe our commitment will help give our athletes a competitive advantage when they take on the world."

In total, the Government's funding injection comprises new Budget funding of $10 million in 2010-11, $15 million in 2011-12, and $20 million annually after that.  By the 2012/13 year, total funding for high performance sport will be over $60 million annually.

NB: See release from Sport and Recreation Minister, Murray McCully - click here.