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Seb Coe welcomes new funding for school sports

The Olympics 2012 chief Seb Coe has welcomed today's announcement of extra funding for school sport.

Read: Cameron to unveil £150 million-a-year funding for school sports

Speaking on BBC Breakfast, he said it would help "get young people into patterns of activity" and encourage exercise later in life.

He added that a good sports policy in schools is also a good education and health policy because of the wider benefits it brings.

Seb Coe's image worth as much as £12 million

Seb Coe had overall charge of delivering the London Olympic and Paralympic Games Credit: David Davies/PA Archive/Press Association Images

Lord Coe capitalised on his Olympic success today as he agreed an image rights deal thought to be worth as much as £12 million.

The chairman of the London organising committee, Locog, sold his 93% interest in Complete Leisure Group to communications and sports marketing group Chime Communications.

The deal gives Chime the rights to Lord Coe's client, consulting and non-executive director fees, plus commissions, royalties and appearance income for the next 15 years.

Lord Coe will receive a "golden hello" payment £1.5 million followed by regular payments in cash and shares

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Seb Coe: I have never been so proud to be British

LOCOG Chairman Seb Coe and International Olympic Committee President Jacque Rogge are taking to the stage. Seb Coe said:

Welcome to London. Welcome to the 2012 Olympic Games. Welcome from every one of us. I have never been so proud to be British and to be a part of the Olympic movement as I am on this day at this moment ... I love sport. You have love sport to compete at it. There is a truth to sport ... This is our time. And one day we will tell our children and our grandchildren that when our time came we did it right. Let us determine, all of us all over the world, that London 2012 will see the very best of us.

– Seb Coe

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