UK newspaper, The Telegraph, reports that the Tory peer faces a backlash from some sports over his plans for projects such as Sir Clive Woodward's Olympic Coaching Academy. The Woodward project is particularly controversial because of its estimated cost of £5 million a year. Private sponsorship for the scheme has not been found and the BOA's own finances are understood to be far from healthy.
Meanwhile, Moynihan is shaking up the BOA's management team. A new chief executive is being recruited and speculation is rife that two senior staff members are to be axed as part of wide-ranging overhaul.
Rod Carr, chief executive of the Royal Yachting Association, told the paper: "If they carry on spending like they are doing they will be in a very bad financial position at the end of their financial year.
"My reading of it is that they are starting to get into deep water and their reserves are worth less than they were two weeks ago. So, combining where they are with their reserves and the ambitious programme that Colin has got planned for the BOA, my question is: where is the money going to come from?"
Carr is one of a number of Olympic chief executives urging a more cautious approach and calling on the BOA to focus on their main job of providing the best environment for Team GB athletes during the Games.
