UK Sport chair Dame Katherine Grainger says funding for the next Olympics in Los Angeles will not be based on results at Paris 2024.

Team GB won a total of 65 medals in Paris, matching their haul from London 2012, but 14 golds was their lowest return in 20 years and saw them finish outside the top five for the first time since Athens 2004.

UK Sport distributes The National Lottery’s Olympic funding among the different sports and Grainger revealed “a very different model of investment” was in place for Los Angeles 2028.

Former rower Grainger, who competed at five Olympics, winning one gold and four silver medals, told the PA news agency: “There’s an absolute assumption by everyone, understandably, that funding is decided on the back of results.

“Almost like you’ll be rewarded if you do well and punished if you don’t do well.

“It’s a very different model of investment now. All the sports have been told a suggested amount already, pre-Games.

“So the results in Paris are of use and of interest, but will not be directly affecting the funding going forward.

“It’s all about future potential. So even if a sport wasn’t successful at these Games, if the conversation has been had, that actually in LA it could be successful for a very good reason, then the finances will be secured.”

Team GB’s medals tally was spread across 18 different sports and Grainger said UK Sport’s strategy was “very much aimed at the breadth of sport”.

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

“We feel we’ve got a responsibility to go for as wide a range as we can. That’s more of interest to the public – you get more support from the public.

“This is public investment, it’s lottery money and Exchequer money and it needs to go as far as it can.

“Not everyone will relate to every sport, but if you’ve got 18 sports that you’re successful in, there’s something for everyone in that family of sports.”

Grainger said UK Sport had targeted between 50 and 70 medals and a top-five finish in the overall table and described Team GB’s haul as “a huge success”.

“One or two gold medals can be the difference between where you finish – that’s why it’s not the real target for us,” she said. “The real aim is the breadth of medals.

“Sixty-five medals, normally when you get that you’re in the top five, so it’s quite an unusual Games that we haven’t made it into the top five.”

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

The ‘ChangeMaker’ initiative is a partnership between The National Lottery’s operator, Allwyn, Team GB, ParalympicsGB and UK Sport to support athletes who want to help projects they are passionate about in local communities.

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

Colchester boxer Richardson, who won his sport’s only medal for Team GB in the French capital, revealed his plans to turn professional after winning light-middleweight bronze.

“It will live with me forever and, from a career point of view, I’m really excited about what’s next,” he told PA.

“It will be likely that I will turn professional, so I’m super excited about that. Whatever I decide, I don’t think it’s the last you will hear from Lewis Richardson.”