The NSF will match donations from commercial bodies and also contributions from individuals. The government has invested£34.5m in the Foundation over the next two years to attract this new investment in three key priority areas:
* Women into Sport - involving more women in playing sport
* Fit for Sport - investment in clubs, coaches and volunteers in local communities
Sports clubs and prospective investors will be able to get simple and direct access to information about how to apply from a new website and a dedicated telephone hotline: 0845 603 6069.
The secretary of state for culture, media and sport, Tessa Jowell,
'Investment in grassroots sport is an investment in the future of our country. From young people to adults, playing sport keeps us healthy and it teaches us about teamwork and hard work. This new money shows how committed the Government is to building on this.
'But it's not just up to government to fund grassroots sport.
Businesses, big and small, can play an integral part in their communities through sport. There are many projects up and down the country that would welcome their financial backing. The government and business can work together to maximise the benefits of sport in our communities through the NSF, by matching private investment pound for pound.'
The minimum amount of sponsorship that can be matched by the NSF must be over£50,000 and be 'new' money - money the private investor has not put into grassroots sport before.
Money will also be set aside so that the NSF can work with the governing bodies of sport to increase the amounts they are able to invest in development at grass roots level.
Lord Carter, chair of Sport England said:
'The launch of the National Sports Foundation, which uses government funding to bring in new private sector investment, is extremely welcome. We need to leverage in additional investment if we are to succeed in our mission to boost community sport and increase participation in this country. The NSF will be dedicated to supporting this drive.'
1. The chancellor announced in the Budget speech on 22 March 2006 that the Government had allocated£34.5m over the next two years to the NSF.
2. The breakdown of funding is£14.5m in 2006-07 and£20m in 2007-08.
3.£2.5m has already been allocated from the 2007-08 allocation to support the 'Chance to Shine' initiative to revitalise competitive cricket in state schools.
4. In order to minimise administrative overheads the NSF will be administered through Sport England's existing infrastructure under the direction of the DCMS.