Diver Matthew Mitcham, the openly gay Australian Olympic gold medallist, has finally secured a sponsor.

Mitcham, 20, was the only openly gay male athlete at last year’s Beijing Olympics. He stunned the diving world when he beat the Chinese favourite in the men’s 10 metre platform competition to earn the highest score ever earned in diving at the Olympics.

Despite his remarkable success, Mitcham, who was recently featured on the cover of the US gay magazine The Advocate, had struggled to secure a sponsor for almost six months. Some suggested that this was due to his openness about his sexuality.

Now, it’s been announced that Australian telecommunications giant Telstra has signed on as his sponsor. The company has previously sponsored other Australian Olympic athletes.

“If I can get the opportunity where I would be able to train without having to worry about paying the bills, that would be the ultimate goal,” said Mitcham.

The funding will reportedly allow him to finance his training in preparation for the London 2012 Olympic Games.

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