The body, which awards public and National Lottery money to Britain's elite sports, announced the decision at a news briefing in UK Sport's headquarters in London today.

"There is a very remote potential that they can really deliver a medal in Tokyo 2020," said Liz Nicholl, chief executive of UK Sport. 

"The journey from where they are now to where they need to be to medal in Tokyo 2020 is off track."

British Basketball found itself in a similar position in 2012, when it had its funding withdrawn following a disappointing performance by both the men's and women's national teams at the London 2012 Olympics.

Following an appeal however, UK Sport found reason to provide basketball's governing body £7 million (£11.5 million/€8.5 million) in funds over a four-year period dependant on certain "strict performance criteria" being met.

British Basketball found itself in a similar situation in 2012 following a funding cut after the London Olympic Games ©Getty Images



Having failed to meet these criteria, through their failure to qualify for the 2014 World Cup, UK Sport has made the decision to withdraw its funding yet again, a decision questioned by British Basketball's performance chairman Roger Moreland.

"There is a gap in the system and that system needs to change, otherwise there is no hope to realise legitimate aspiration for those sports that are not already at the table," he said.

"The system is not like a tap.

"To work effectively, it cannot be turned on and off and still produce players and coaches to succeed in future Olympic Games or World Championships.

"The basketball community at home and abroad will be aghast that this can happen again.

"It seems every barrier to progress for basketball originates in Britain; the very country that should be embracing the progress its basketball teams have achieved."

He added: "UK Sport decided not to fund basketball in December 2012 and have done so again.

"As we asked then, we ask again - what price a legacy from 2012?

"We are still on the road to Rio but we now have to qualify for EuroBasket 2015 with our hands tied behind our back."

"We will need to take stock of the challenges this decision presents.

"Right now, the view of Lord Harris in his Select Committee report on team sports holds true."

Liz Nicholl, chief executive of UK Sport, explained that the limited access British Basketball management has to its professional athletes was a major factor in their decision to withdraw funds from the sport ©Getty Images



Nicholl defended the decision made by UK Sport, explaining to insidethegames that although the failure of either national team to qualify for the 2014 World Cup was a big factor in the decision, due to the prior agreement they had made with British Basketball, it was not the sole reason for the withdrawal of funding.

"The biggest factor that has impacted on this decision is the limited access that the British Basketball management has to the athletes that are playing in professional clubs for the majority of the year and their ability then to really develop the team to a level where there is real evidence that they are on a trajectory to deliver performances that will take them on to Rio and Tokyo and to medal in Tokyo," she said.

"So the outcome of our annual review is that there is very little possibility of basketball delivering medals in Tokyo let alone Rio and that is why the funding has been withdrawn.

"Don't forget, our investment is solely in medal potential and if a sport hasn't got real medal potential then we can't invest in them."

Despite receiving around a £1 million funding increase last year, synchronised swimming has seen its funding completely cut in this year's Annual Investment Review ©Getty Images



Following UK Sport's decision today, British Swimming has also come out in defence of its two sports which face a complete funding cut - water polo and synchronised swimming - outlining their plans to appeal the decision,

"British Swimming is considering all available options including a formal appeal following today's announcement by UK Sport that funding will no longer be awarded to the women's Olympic sports of Water Polo and Synchronised Swimming," their statement read.

David Sparkes, chief executive of British Swimming, added: "While British Swimming welcomes UK Sport's on-going support for diving and para-swimming, as well as recognising the massive turn around in the direction of the swimming programme, it is an extremely dark day for women's sport in this country as today's announcement could well signal the death of these historic Olympic sports in Britain.

"The decision flies in the face of the massive legacy impact afforded by the investment previously and successfully made in these sports within the London cycle and beyond.

"We will now carefully look at our options and, in due course, may well consider a more formal appeal over these devastating decisions."

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