MELBOURNE (Reuters) - Australia will cut government funding to its top sports if they fail to bring governance standards up to scratch in the wake of the country's London Olympics flop and the release of a clutch of embarrassing reports.
The Australian Sports Commission (ASC), which holds the purse strings for sports Down Under, said swimming, cycling, athletics, sailing, rowing, hockey and basketball were the most well-funded sports and the first to see cuts of up to 20 percent if they failed to meet new mandatory standards.
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