A British businessman is personally providing funding to 15 2012 hopefuls, including world heptathlon champion Jessica Ennis, in the build-up to the London Games and beyond.

Barrie Wells, a successful financial services businessman, has also set up a sports foundation which will allocate grants of between £500 and £2000 to clubs to encourage grassroots projects, with Ennis acting as patron.

The Liverpool-born Wells personally chose each of the athletes after working with governing bodies to identify the individuals, and he then interviewed the selected athletes. Each of those chosen will receive up to £8,000 a year in return for their presence three times a year to visit schools and clubs to support the foundation.

Wells has a deep love of sport and said: "I've been to every Olympics since 1972, I follow Liverpool FC, might go to Australia to watch the Ashes and I might go to Madison Square Garden to watch Joe Calzaghe fight - following sport all over the world.

"Then I sold a company called Premierline for a lot of money.

"You wonder what to do with the money: do you leave it all to your kids, do you buy houses abroad, boats and things and I thought 'well no, I absolutely love sport and I'll do two different things'.''

Those chosen are five swimmers - world 50 metres backstroke champion Liam Tancock, double world finalists Hannah Miley and Lizzie Simmonds, double Commonwealth champion Caitlin McClatchey and highly-rated 16-year-old Anne Bochmann.

The others selected for funding are modern pentathlon duo Sam Weale and Freyja Prentice, heptathletes Ennis and Katarina Thompson, athletes Michael Rimmer, Stephanie Twell and Jodie Williams.

Funding has also been provided for runners Adam Bowden, Charlotte Roach and Katie Ingram enabling British Triathlon to create a new initiative called TriGold.

It aims to bring the trio's cycling and swimming up to the level of their running in order to challenge in London.

Wells is especially interested in swimming, athletics and cycling and wanted to put money into sports he enjoys.

He got involved with Ennis in March and the Sheffield athlete explained "I was personally helped by Barrie this summer when he paid for my personal physiotherapist Alison Rose to attend the World Championships.

"After my injury in 2008, I wanted to ensure that she was there to work alongside the GB team physios, as she is the one who treats me every week. It gave me huge peace of mind.''

Following her victory in Berlin, Ennis then agreed to become the patron of the Wells Sports Foundation.