The Hong Kong Sports Institute could receive up to $80 million a year from the Government after its funds dry up in April next year.
The Government's Broadcasting, Culture and Sport Bureau said it expects the Institute will need '$70 million to $80 million' a year to supplement its income after April, 1998.
However, the Bureau has yet to work out in what form the money will be given - whether as a large lump sum over several years or on an annual basis.
The Institute, which specialises in training elite athletes, spent around $120 million during the last financial year.
'We have made a public commitment to the Institute and this remains a priority for the Bureau,' said Jonathan McKinley, the Bureau's principal assistant secretary.
'The Institute feel they will run out of funds sometime next year and it is important that something is done to ensure they continue to train elite athletes.
'They say they spent $120 million last year, but they also do have some income, sponsorship and some of their trust fund left. I would say they would be looking at $70 million to $80 million from the Government to fulfil their potential as a centre for elite athletes.' McKinley said he hopes a decision will be made within the next two months and that the Institute's financial needs will be taken into account in the SAR Government's budget for 1998/99.
