Lloyds TSB, the first Official Partner of the London 2012 Olympic and Paralympic Games, has launched a nationwide programme, ‘Lloyds TSB Local Heroes’. ‘Lloyds TSB Local Heroes’ will provide up to £1,000 to 250 emerging young sportspeople identified each year across Britain, in the run up to London 2012 and beyond.

By investing more than £1 million in ‘Lloyds TSB Local Heroes’ over the next five years, the bank will play a major role in supporting Great Britain’s young sporting talent. Local Heroes will be delivered in partnership with SportsAid.

Athletes receiving support through Local Heroes are already performing at a top GB or European level within their age group, but they have not yet made their ‘breakthrough’ performance into senior competition. This is a critical period in their development. Costs are significant but athletes have not yet achieved World Class lottery funding status, they do not have the profile to secure commercial interest and are still in full time education or just starting on the job ladder.

Speaking about ‘Lloyds TSB Local Heroes’, LOCOG Chairman Lord Sebastian Coe said: “This initiative is exactly the kind of support British sport needs over the next five years. These young athletes are potential Olympic and Paralympic medal winners at London 2012 and beyond and the support ‘Lloyds TSB Local Heroes’ provides to them will make a real difference to their development.”

‘Lloyds TSB Local Heroes’ is the bank’s first initiative to deliver its London 2012 vision of inspiring and supporting young people, businesses, and communities across Britain. The partnership with SportsAid aligns Lloyds TSB Local Heroes with the pathway for athlete development recognised by British sport.

Sally Hancock, Director of the Lloyds TSB London 2012 Partnership, explained, “The 2012 Games will take place in London, but it’s young people from all around the country who’ll carry Britain’s hopes for 2012 and beyond. Lloyds TSB Local Heroes is intended to recognise and support young people starting out on their journey with optimism and determination. ”

In addition to receiving financial support a number of the ‘Lloyds TSB Local Heroes’ will also feature in their own Lloyds TSB regional and local advertising campaign. This will help to raise their profile in their own communities, and to encourage local people and businesses to support them. The bank will provide extra support by offering guidance on financial planning and money management, important in any athlete’s career.

Olympian and Lloyds TSB ambassador for London 2012 Jonathan Edwards said: “I distinctly remember the day when I received my first SportsAid grant. Not only was it a financial boost for me and my family, it was the first real recognition of my ability. I genuinely felt I had arrived as an athlete.”

Paralympian and fellow Lloyds TSB ambassador for London 2012, Ade Adepitan, commented: “I know how expensive equipment, travel and training can be when you’re coming up through the ranks. Each year 250 Olympic and Paralympic hopefuls across Britain are going to directly benefit from ‘Lloyds TSB Local Heroes’ at a time when they need it most - as they work towards competing at London 2012 and future Olympic Games.”

Tim Lawler, SportsAid CEO said: “Lloyds TSB’s partnership represents a step-change for SportsAid. It enables us to offer more money and more support to more athletes. We’re very pleased that Lloyds TSB is providing such practical and meaningful help for Britain’s young sporting champions.”

Gerry Sutcliffe MP, Minister for Sport, welcomed the exciting news: “Having been aware of the project from its inception, I’m delighted to see ‘Local Heroes’ come to fruition. This is a key step in the journey to London 2012 and beyond for hundreds of talented youngsters” and Liz Nicholl, Director of Elite Sport at UK Sport said, "This support from Lloyds TSB will be a fantastic help to aspiring athletes at a critical stage in their journey to becoming our future champions".

One of the new Local Heroes, Hannah Browne aged 18 from Camberley, Surrey (Judo), said: “I am really chuffed to be part of the ‘Lloyds TSB Local Hero’ programme. At the moment my family and I spend a lot of money travelling to competitions. When I go to university next year Mum and Dad won’t be there to drive me around so ‘Lloyds TSB Local Heroes’ will help me get to competitions and give me the freedom to continue to compete at a high level.”

For more information on Lloyds TSB Local Heroes visit www.lloydstsb.com/localheroes