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Dame Katherine Grainger, chair of UK Sport, says funding for the next Olympic Games in Los Angeles will not depend on the results at Paris 2024.

The British team won a total of 65 medals in Paris, equalling their tally from London 2012. However, 14 gold medals was their lowest haul in 20 years and they finished outside the top five for the first time since Athens 2004.

UK Sport distributes the National Lottery’s Olympic funds across the various sports and Grainger announced that “a completely different investment model” would be used for Los Angeles 2028.

Former rower Grainger, who competed in five Olympic Games and won one gold and four silver medals, told the PA news agency: “Everyone understandably assumes that funding will be decided on the basis of results.

“It’s almost like you’re rewarded when you do something well and punished when you don’t do it well.

“It is now a completely different investment model. All sports were given a recommended amount before the Games.

“So the results from Paris are useful and interesting, but will not have a direct impact on future funding.”

“It’s about future potential. Even if a sport doesn’t succeed in these games, if you assume it could succeed in LA for good reason, then the funding is secured.”

The British team’s medal haul spanned 18 different sports and Grainger said UK Sport’s strategy was “very much focused on the breadth of sport”.

“There is an argument that you can be very successful if you focus on a few sports, and some nations do that very well,” she said.

“We feel obliged to cover as broad a spectrum as possible. That is more interesting for the public – you get more support from the public.”

“These are public investments, they are lottery money and money from the state treasury, and they must go as far as possible.

“Not everyone can identify with every sport, but when you have 18 sports in which you are successful, there is something for everyone in this sports family.”

Grainger said UK Sport’s target was to win 50 to 70 medals and finish in the top five overall, and described the British team’s haul as a “huge success”.

“One or two gold medals can make the difference in where you end up. So that’s not our real goal,” she said. “The real goal is the breadth of medals.”

“65 medals – normally that puts you in the top five. So it’s quite unusual at the Games that we didn’t make it into the top five.”

Grainger was speaking at a National Lottery ChangeMaker event at the North Paddington Youth Club in London, where she was joined by Team GB medallists Noah Williams (diving), Lewis Richardson (boxing), Lola Anderson (rowing) and Joe Clarke (kayaking).

The ChangeMaker initiative is a partnership between National Lottery operator Allwyn, Team GB, ParalympicsGB and UK Sport to support athletes who want to support projects in local communities that are close to their hearts.

“It’s about bringing people together and inspiring them to do something special,” Grainger added.

Colchester boxer Richardson, who won the only medal in his sport for the British team in the French capital, announced his plans to turn professional after winning the bronze medal in the light middleweight category.

“It will always stay with me and from a professional point of view I’m really excited to see what’s next,” he told PA.

“I’m probably going to turn professional, so I’m really looking forward to it. Whatever I decide, I don’t think this will be the last you hear from Lewis Richardson.”