The firm’s funding is being provided through SportsAid, the charity for sports people, which has helped the careers of British athletes for 30 years.

Their alumni include Sir Steve Redgrave, Dame Kelly Holmes, Sebastian Coe, Dame Tanni-Grey Thompson and at the 2004 Athens Olympiad, 15 of the 17 British gold medallists had received support from SportsAid.

James Hickman, five times world 200m butterfly champion and a SportsAid alumnus, attended a presentation ceremony at Eversheds’ office in London at which some of the twelve athletes received the first instalment of their funding.

Both disabled and able-bodied athletes make up the group, who excel in sports ranging from skiing, waterpolo and lawn tennis through to the heptathlon.

“SportsAid is a lifeline of funding for everyday expenses and those costly competitions," said James Hickman. "Its support was crucial to my own success and it is vital that organizations such as Eversheds commit to supporting our current young sportsmen and women to fulfill their ambitions.”

Tim Lawler, chief executive of SportsAid, commented: “Teaming up with the City business community means we can channel significant funds through to the emerging talent in the country – something which is essential for the continued success of British sport.

"There is no question that the focus is now on the LondonGames and it is a big target for many young athletes. Donations like this will allow them to work towards that with confidence."

Cornelius Medvei, Managing Partner of Eversheds’ City office, said: “We’re hoping that we can help some of the nation’s brightest prospects at one of the most vital times of their careers. Support at this early stage can often mean the difference between athletes persevering or dropping out of their chosen sport.

"SportsAid is a charity with a proven record in ensuring funding gets to the right athletes. By funding these young hopefuls through SportsAid, Eversheds is playing its part in securing the future of British athletics for 2012 and beyond.”