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IOC warns Rio it risks missing deadline for 2016 Games

The International Olympic Committee has sent a clear warning to the organisers of the Rio 2016 Games that "every second counts" after visiting the Brazilian city.

With just over two years to go, the IOC said that a "constant, concerted and integrated effort is required for the successful delivery of the Games and its legacy".

It added: "Although progress is being made, each decision that is postponed and each subsequent delay will have a negative impact on delivery. Total focus and dedication are therefore required."

ITV News' Brazil correspondent Nick Ravenscroft, who was at the news conference, tweeted:

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Bradley Wiggins to retire from road racing next year

Sir Bradley Wiggins will compete for one more year with Team Sky before retiring from professional road racing next summer.

In an interview with The Times (£), Wiggins said there was little chance of him winning the Tour de France again.

Sir Bradley Wiggins said he has his sights set on a gold at the Rio 2016 Olympics. Credit: Adam Davy/PA Wire.

Speaking of teammate Chris Froome, he said, "I don't mind admitting that Chris is probably a better Grand Tour rider than me. He has age on his side, he has no kids. That's fine. If Chris wants to, he could potentially win five tours now."

Wiggins is setting his sights on a return to the velodrome at Rio 2016, telling the newspaper, "I'm going to continue to the next Olympics and try for a fifth gold on the track, that's the plan".

"It would be nice to finish the career with another Olympic gold," he added.

Volleyball Olympian 'hurt' by Rio funding annoucement

British swimming 'disappointed' with funding award

Overall we are satisfied with the outcome. While disappointed with the award for swimming, we recognise we need to rebuild confidence that we can deliver medals at Olympic level consistently before we can demand more investment.

We had a disappointing Olympics in swimming and we now need to focus our energies on driving the cultural change needed moving forward and this will be built around a no compromise approach underpinned by performance management and strong effective leadership.

– David Sparkes, British Swimming CEO

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Handball player 'absolutely gutted' by Olympic funding loss

Handball player Chris McDermott has tweeted:

Team GB athletes tweet reaction to Rio funding

Boxing gets biggest increase in UK Olympic sports funding

The biggest increase of any UK Sport Olympic funding goes to boxing, a 44% increase, to £13.8m, though £9.55m is conditional on sport sorting out some internal issues.

Team GB's Nicola Adams became the first woman boxer to be crowned an Olympic champion Credit: Andrew Milligan/PA Wire/Press Association Images

Cycling is up to £30.6m from £26.3m, athletics has a £1.7m increase to £26.8m, rowing up from £27.3m to £32.6m, and gymnastics up from £10.8m to £14.5m.

Investment in Paralympic sport has also risen dramatically, up 43% on London 2012.

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