Its main board approved the sum on the basis of each sport meeting participation, success and modernisation targets.
The investment spans grassroots to international elite performance and aims to develop the infrastructure of clubs, coaches and volunteers.
Stephen Baddeley, former Commonwealth badminton Gold medallist and Sport England’s director of sport, said: “This new simplified funding will empower these sporting bodies through reducing bureaucracy and giving them greater responsibility for how they manage their funding. We will continue to work in partnership with them to achieve our collective targets of increasing participation and success in sport.”
Sport England has warned governing bodies they must start hitting participation targets or face more cuts. Yet despite concerns over falling lottery ticket sales, the funding programme is the biggest ever commitment to sport by the government agency.
Of the £315m being invested, the majority comes from the National Lottery and the rest from government. In allocating the funds, allowance is made for participation levels and the public interest in a particular sport, as well as elite level performance.
Athletics has had its funding reduced as have hockey and gymnastics because they "underperformed" in the past.
Cycling, rowing and sailing meanwhile, have been hailed as examples of sports that have used their money efficiently through better administration.
