This is the first time the AIS, through the support of the Australian Government, has allocated funds for a full Games cycle, with the historic move allowing sports to forward plan and build on the success of the Tokyo Games.

AIS CEO Peter Conde said the long-term funding model, which was developed in close consultation with sports, is not based on rewarding medals from the Tokyo Olympic and Paralympic Games but rather a commitment to creating success for Paris and beyond.

“This funding commitment is made possible because of the belief and confidence the Australian Government and the AIS has in Australian sport,” Mr Conde said.

“The Tokyo Olympic Games and Paralympic Games inspired us all and we have worked with Government to secure longer-term funding to forward plan and continue building on that success. This is why we are now launching an even stronger platform for Paris.

“This additional high performance funding for the 2024 Games is in addition to $14.6m a year in direct athlete grants (dAIS) being provided leading into Paris, as well as the $82.2 million allocated in the 2021 Federal Budget to fund wellbeing programs and extend performance pathways to develop our champions of the future.

“This overall commitment to high performance sport furthers the aim of the National High Performance Sport Strategy to create conditions for sustainable success not only for Paris, but Los Angeles 2028 and our home Games in Brisbane in 2032.”

Australian Sports Commission Chair Josephine Sukkar AM said: “We are in the midst of an exciting time for Australian sport. Paris is now only two and half years away, and our commitment to longer term success, the green and gold runway to Brisbane 2032, is also front of mind.

“I would like to thank the Australian Government for sharing the vision of the AIS and recognising the value of allocating funding for a full Games cycle. It is a huge show of support for the Australian high performance system, the sports and our athletes.”

Several sports will be receiving funding increases in the leadup to Paris, including:

• A 39% increase for a total of $2.5m p.a. for the Women's Rugby 7s program
• Combined total funding of $7.15m p.a. for Para and Able Canoe, and $10.055m p.a. for Para and Able Rowing
• Surfing to increase by 30% to $2m p.a. and Skate to receive $0.85m p.a.
• Funding for Para-Table Tennis to increase by 74% to $0.9m p.a.

The majority of sports will receive grants for the period 1 July 2022 through until 31 December 2024. Given that high performance funding is allocated primarily towards pinnacle events, allocations for Winter and Commonwealth Games-only sports will be announced after their pinnacle events in 2022.