Fears are growing for a canoeing and rowing centre in Nottinghamshire.
Many top athletes have trained at Holme Pierrepont
The National Water Sports Centre at Holme Pierrepont, near Nottingham, has been a national training centre since it opened more than 30 years ago.
Sport England, which provides £1.4m every year, wants to fund new facilities in the south of England ahead of the 2012 Olympics.
This has raised concerns cash for Holme Pierrepont could dry up - but officials said they are "considering options".
Holme Pierrepont has a 2000-metre regatta lake, slalom course, water ski lake and ski tow and is accredited by the British Olympic Association as a training venue for canoeing.
Aynsley Buggy, canoe slalom athlete, said: "We currently have two Olympic medallists who train here full time, 14 sessions a week.
"Especially for youngsters and ahead of London 2012, it's a big facility.
"It's one of the only consistent white water courses we have got in Britain."
Tom Kay, who won three world championship gold medals and rowed for Britain at the Olympic Games in Sydney and Atlanta, trained at Holme Pierrepont from 1988 to 2003.
He said: "Most international rowers now train abroad but this is still a good venue for national events and a valuable facility for rowing."
Tim Garfield, from Sport England, said: "What we have done is initiate a review. Holme Pierrepont was developed 30 years ago and is still a great facility but it is three decades old.
"With London winning the 2012 games we know there are going to be new developments which are going to have an impact on the use of Holme Pierrepont.
"So we are taking a time out to review the options with the partners involved in that site."
Sport England added that consultants looking at the issue would report at the end of February.