The money is coming from the Inspired Facilities Olympic legacy fund and at least 70% of it will go to community and voluntary organisations, through grants of between £20,000 and £50,000.
Some of the money has already been set aside to help revitalise a sailing club, skate park and boxing club in the area.
£50,000 will go to Cleveden Sailing Club in North Somerset to help modernise the changing facilities and improve storage for equipment.
£40,000 will be used to install new floodlighting and a 'street style' skating facility at a skate park in Cirencester.
£43,775 will go to Marlborough Amateur Boxing Club in Wiltshire to renovate its sports pavilion.
46 community sports projects have been chosen in the South West to benefit from the £2.47 million pound legacy which is part of the Places People Play programme run by Sport England. Grants have also been offered to convert buildings into sports venues and to allow local clubs to buy the facilities they use.
South West sports clubs will be able to bid for the next round of funding from Sport England between 23rd July and 17th September. An extra £10 million will be available via Lottery investment as part of the Inspired Facilities programme. http://www.sportengland.org/inspired.