The Australian Olympic Committee (AOC) president has its British counterpart, British Olympic Association (BoA) chairman Lord Colin Moynihan, a bottle of champagne for each coin separating Australia and Great Britain in their private dispute with London 2012 Olympics bet.
Coates recently voted one of the 15 seats in the International Olympic Committee (IOC) executive board, has a track record of success in most things he set his mind, but it will not be enough to win his bet with Lord Moynihan as the current figures stacked against him.
Since a peak of 58 medals in Sydney, Australia’s hit slipped from 49 to 46 in Athens and Beijing, and the AOC estimates would only be a Summer 38 was held today to win.
Britain, meanwhile, has roared to the table of the 10th in Sydney and Athens to fourth in Beijing, and investing large amounts in its athletes to his home games in 2012.
Australia is the same and it paid off, with the sharp rise in Sydney medal match nearly 50 percent of the 41 medals won in Atlanta four years earlier.
Britain spends more than 736 million pounds to his athletes in the four years prior to the London Olympics. Whereas Australia spending less than half of them, approximately 333 million pounds.
“There is a direct relationship between funding and results,” said Coates, who pressed the government for an additional 61 million pounds per year for the next ten years at the Australian Olympic to maintain.