The academy will host a number of high profile events before the Olympics

The �7.85m purpose-built Weymouth and Portland National Sailing Academy will be one of the venues for the first Olympics held in Britain since 1948.

About �6m of the funding will be used for facilities for the games such as accommodation for competitors.

The rest of the cash from the National Lottery and government will be spent on slipways and changing rooms.

It's great for the area and for sailing in general Rosie Julian

Rosie Julian, from the academy, told BBC News that although it had been promised the money, it would be more than a year before they received it.

About 20 people are currently employed at the academy and it is expected this number could double when the extra funding is made available.

Ms Julian said the staff were more excited than nervous about hosting such a big event.

"It's great for the area and for sailing in general, the sailing community are really looking forward to it," she said.