1. ITV Report

Funding reprieve for Waterfield

Pete Waterfield Photo: PA

Tom Daley's Olympic platform synchro partner Peter Waterfield is set to resume his decade-long career after a decision to cut his UK Sport funding was overturned.

British Swimming has confirmed to Press Association Sport that four-time Olympian Waterfield has been handed a new six-month contract.

While it is unlikely he will revive his partnership with Daley - after they finished fifth at last year's London Olympics - the deal will ensure the 31-year-old father of two will have financial backing until at least the summer's world championships in Barcelona.

"Peter Waterfield has been handed a new six-month contract," a British Swimming spokesman said.

"The contract is performance-based and will be looked at again after the world championships."

Great Britain's Tom Daley (left) and Pete Waterfield Credit: PA

Waterfield hit out at the decision to cut his funding in January, claiming his family would be left "homeless" if he tried to continue his career without funding.

An emotional Waterfield also said it was his coach, rather than British Swimming, who informed him of the decision.

British Swimming had its funding cut in the post-Olympic review although diving was handed a £1million boost.

"It's pointless [to continue]. I have to pay a mortgage, I have two kids to feed as well as a car to run. I struggle anyway," Waterfield said after being told of the decision in January.

"Without the funding I can't do any of that. The only way I can carry on diving is if I find funding from another source, maybe sponsorship or something like that. I've been diving for 20 years and I've never had a financial sponsor.

"If I don't find another source of funding, not only will it be my career that's lost but my house and me and my wife and kids would be homeless."

Pete Waterfield Credit: PA

Waterfield has not competed since the decision to cut his funding with a shoulder injury forcing him out of the pool.

Waterfield won an Olympic silver medal in 2004 but he was left to apologise to Daley in London last year after his error cost them a podium place.

The veteran also competed in the individual platform at the Olympic Aquatic Centre but failed to get past the first round.