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The British Olympic Association (BOA) has announced that it has a contingency plan to ensure that British skiers and snowboarders will be able to compete in next month’s Winter Olympics even if their governing body goes into administration.

It emerged yesterday that the British Ski and Snowsport Federation, which trades as Snowsport GB, requires a short-term loan or cash injection of £200,000 before the end of this month to continue in business.

That led to fears over the participation of up to 15 British athletes at next month’s Games in Vancouver, but BOA chief executive Andy Hunt said: “We are fully aware of the situation and have been briefed on the steps being taken by Snowsport GB to remedy the financial shortfall.

“The BOA’s absolute priority is to do everything possible to ensure that the athletes are able to compete in the Vancouver Games as members of Team GB. We have developed a contingency plan and, should it become necessary to do so, will submit it to our board for consideration.

“We are in communication with the relevant team leaders and officials to reassure them that we are monitoring the situation closely and are doing everything we can to support them.”

The BOA is likely to enter the skiers and snowboarders if Snowsport GB goes bust.

International Olympic Committee rules state: "Should there be no national federation for a particular sport in a country which has a recognised National Olympic Committee, the latter may enter competitors individually in such sport in the Olympic Games subject to the approval of the IOC executive board and the international federation governing such sport."