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The British Ski and Snowboard Federation (BSSF) is reportedly close to going into administration.

The Times claims that such a move would threaten the participation of up to 15 British athletes at next month’s Winter Olympics in Vancouver.

The British Olympic Association (BOA) is monitoring the situation and is said to be taking legal advice over whether skiers and snowboarders need a national federation to take part in the Olympics.

The paper reports that the BSSF, which trades under the name Snowsport GB, requires a short-term loan or cash injection of £200,000 before the end of this month to continue in business.

BSSF chairman Oliver Jones confirmed that administration was an option but insisted it was “not a foregone conclusion”.

He said: “Administration is only one of a number of outcomes which may come out of this. The federation has had a particularly difficult year, made worse by the economic background.

“As a winter sports federation, we have seen our funding substantially curtailed in recent years and we have become increasingly dependent on more private funding.”

Jones added that the BSSF had been in a “perilous” financial position last summer but, after raising £400,000 from supporters, had been put “back on an even keel”.

However, problems re-emerged when the Royal Bank of Scotland, the federation’s bank, withdrew a £30,000 overdraft facility in November.

Jones revealed that the BSSF had made personal appeals to Tessa Jowell, the Olympics Minister, and Ben Bradshaw, the Secretary of State for Culture, Media and Sport, but said that it had been made clear that no government funding was available.

He explained that if the BSSF was to go into administration, some competitors would require special dispensation from the IOC to take part in Vancouver.

“This is not something we would want to be happening to some very talented athletes shortly before one of the most exciting moments in their careers,” he continued.

“I know we are living through extremely tough times, but I find it extraordinary that we have not been able to raise the £200,000 we need. It is not too late for someone in Government, or the Royal Bank of Scotland, to think again.”