PENSIONERS have poured their savings into what could become Britain's biggest boxing gym to take youngsters off the streets - and hopefully into the 2012 Olympics.

The Phil Thomas School of Boxing has already trained Olympic and Commonwealth Games medal winners.

But with 50 boys training and a further 40 waiting to sign up, the former Joe Walton's Boys Club is being forced to quit its small gym above a Middlesbrough pub and move into bigger premises in the town.

The club has taken over two derelict floors of a now defunct skin and hide business in a run-down area of St Hilda's, in Middlesbrough.

The sheer size of the floor space could make it the biggest boxing gym in England - one day.

But with six loyal volunteers - two of them pensioners - having to put their own money into the project and no sign of any grants, that goal could take years to achieve.

"We have put money in ourselves," said club secretary and Amateur Boxing Association coach Ron Cave, 67, who has been with the club for all its 37 years.

"We have lads we hope to get into the 2012 Olympics - lads with a lot of potential.

"We have always fought and always been successful, but we just cannot seem to get any recognition.

"This is about taking kids off the streets and we could do that for a lot more. You have street wardens and community support officers who are all paid, but we have no money.

"So, if we have to do this ourselves, we will do it ourselves. We will just have to take our time, although it might take a number of years.

"It's a massive project and we'll have to do a little bit at a time."

The volunteers have paid thousands of pounds out of their own pockets to rewire one room and lay a new floor.

Local businesses are helping out, with donations ranging between £200 and £500.

But club chairman and assistant coach Harry Middleton, 73, said: "Financially, we have come to a stop. We have run out of cash after putting what money we had into the new building. We are down working at the new premises every day of the week."

Peter Richards, a graduate of the boxing club, beat former welterweight world champion Vernon Forrest at the Sydney Olympic Games, in 2000. He also won gold at the Commonwealth Games, in Canada.

Andrew Green, also from the club, boxed at the Canada Games too, but missed out on a medal.

James Donaghue, ABA England Champion Stephen Swales and Gary Grounds have all fought for England in international bouts, as have Andrew and Peter, while junior ABA champion James Pollock has fought three times for England.

Boxers coached by the club have won half a dozen national titles in various weights in the past 14 years