Prime Minister The Hon Anthony Albanese and Minister for Sport, The Hon Anika Wells, joined dozens of athletes, including Olympic legend Cate Campbell, at the Australian Institute of Sport in Canberra to make the announcement this morning.

The investment announced today is in addition to the $102.8 million annual grant funding, free support services, and subsidised access to the AIS facilities the ASC provides to national sporting organisations and high performance athletes.

Together, total investment in high performance sport will be $489 million over the next two years.

The $283 million investment will support athletes, coaches, and support staff over the first two years of the four-year cycle to the LA 2028 Games and includes the biggest ever Paralympic spend to address systemic and structural barriers to performance for para athletes.

The $54.9 million additional para sport funding, doubling the existing support, will address better classification opportunities, access to fit-for-purpose training environments, and specialised coaching and performance support.

The historic investment also gives athletes, coaches, and staff the opportunity to achieve their full potential by providing:

• An investment of $17.6 million over two years to the Direct Athlete Investment Support Grants (dAIS) program to address cost of living pressures.
• Extra training, wellbeing, and preparation support, including access to world leading coaches and performance support staff.
• Access to more domestic and international competitions to regularly compete against the world’s best in preparation for major sporting events.

ASC CEO Kieren Perkins OAM said today’s announcement, made just weeks out from the Paris 2024 Olympic and Paralympic Games, was a sign of confidence in Australian sport.

“Thanks to the Australian Government, our Olympians and Paralympians will head to Paris with the backing of the biggest ever investment in high performance sport,” Mr Perkins said.

“Australian high performance sport is more united than ever before under our shared commitment to win well, and I’m proud this has been recognised through today’s announcement.

“We especially welcome the increased investment in para-sport which will reduce inequality and allow our para athletes to make the most of their talents.

“I would like to thank the Australian Government for its commitment to sport and providing our athletes the platform to win well and inspire the next generation of more active Australians on the road to LA, Brisbane, and beyond.”

Today’s announcement follows the Australian Government’s $249.7 million investment to revitalise the AIS campus in Canberra, which will create a world-leading high performance sport training environment for Australian athletes and coaches for generations to come.