I'm not overly concerned about the olympics. As any semi interested aprty(LOOK! GLARING AND RIDICULOUS SPELLING MISTAKE, oh the shame. See next entry for full apology.) will be aware. I'm more of a football, cricket, baseball sort of fella. I do love sailing and know an insane ammount about it but it's never really the type of sport you can watch on TV or chat about to friends, "Hey guys! Did you see Ben Ainslie crap on that Finnish laser last night?" No, it doesn't really work.
Having said all that I do enjoy the big shows such as the track events or anything where the British have even the slight chance of success. We used to win a few medals when I was a kid.
The reason for our decline? It's not about underinvestment in the nation's youth or the rise of the 11 year old couch potato. It's all to do with the cold war. Look at some of the great British Olympic heroes of the past thirty years, they all succeeded when the games were 'blighted' by some form of international boycotts. In 1980 (No USA) we won a clutch of golds. In 1984 (No USSR) we also did pretty well. Since the world has grown up and decided to get along we've been shit. Oh well, here's to curling and synchronised diving.