A Sussex businessman has saved English hockey from financial ruin.

Stewart Newton, president of Brighton and Hove Hockey Club, has put together a half-million pound rescue package which guarantees the future of the sport.

Newton, 60, acted after it emerged the English Hockey Association was on the verge of bankrupcy.

He did not want to buy into the ailing organisation. Instead, a new company, Hockey England Ltd, has been formed and Newton has lent it an interest-free sum of £500,000.

The rescue package has been put together by Newton and Mike Corby, a long-time friend and president of the EHA.

Newton said: "I know Mike through real tennis. We are both members at Petworth.

"Mike Corby is an outstanding sportsman. He won 70 caps for England, was rated two or three in the world at squash and he also played other major sports.

"He was voted on (to the EHA) by public demand as vice-president a few years ago because there was dissatisfaction with the way English hockey was moving away from the clubs. He then became president.

" I think the league system in hockey needs to be looked at again. It is not sufficiently flexible and mobile. Brighton have suffered from this, having come second in the league twice and not been promoted.

"In the last two years we have beaten Chichester once and drawn once, losing on the golden goal. It shows we could hold our own in a league two levels above our present level.

"This is a a classic problem of the whole league system in England at the moment which needs adjusting."

Newton's gripe took on bigger proportions when the full extent of the EHA's problems became clear.

He said: "I went to the Sussex AGM, having written to Mike saying the league format was an issue I wanted to talk about.

"Just before that meeting we were given the first press announcement which said the English Hockey Association was in financial difficulties and they needed £150 per team to get things sorted out.

"I went to that meeting and asked what the EHA was doing for people and what should happen. There was a resounding reaction that people were not getting their money's worth and could do without the EHA."

Newton made his money through Newton Investment Management, a company he formed in 1977. Although recently retired, he is behind another company, Sussex Research Ltd, based at Sussex University.

Newton felt a central body was needed and decided to take action himself.

He said: "There are key things that need to be looked after centrally like the rules and merchandising.

"At the South meeting, it was clear there was very little confidence in the EHA and the chief executive, who has since resigned.

"It needed a special event for the EHA to remain solvent.

"My view was that to get ten godfathers putting in £50,000 would solve the problem. But I could see the thing drifting into oblivion.

"Even though I have great criticisms of the EHA, the point is there needs to be a central body for certain things.

"Mike and I agreed in principle that I would put up the money. I formed a new company, Hockey England Ltd, and made an interest-free loan - £500,000 this year, reducing to £250,000 - for the year to December 2003 to give it a working capital."

Newton, who played club hockey in Scotland and for Chichester, has been a member of Brighton and Hove for a number of years.

The future could be bright for them and the sport as a whole. He said: "My objective is to get HEL working so that it is making money and generating cash. We want it on a sound footing and I can see no reason why it cannot be achieved within a two-year review.

"If it had not been for Mike this thing would have fallen into the sea very quickly. He has worked tremendously hard to keep it afloat.

"I think it will survive and with a fair wind hockey will be in a stronger position than it has been for a long time. But it will need two or three years to sort out."