A BRITISH Olympic boxer and major medal hope who was arrested on suspicion of dealing cocaine will not face charges, police said today.

Light welterweight Bradley Saunders, 22, who was tipped to win gold at the Beijing Games, was arrested in November last year after a sniffer dog detected what police believed was £12,000 of the drug in his back garden.

A warrant was executed at the semi-detached home he shared with his girlfriend Stephanie Elliott, also 22, in Cragside, Sedgefield, County Durham, and both were arrested before being released on bail.

Today, a spokeswoman from Durham Police said: "The CPS has decided not to proceed."

Saunders denied being involved in drug dealing after the police dog found a tin containing more than 10.6oz (300g) of a white powder, which was sent away for analysis.

Saunders admitted his relief that the matter is now over.

He told Setanta Sports News: "It's unbelievable. I was on the edge for so long.

"I have not really been able to focus on my boxing with everything going on in my life.

"I knew this was going to happen, but obviously with it not happening until now - it's brilliant."

The young boxer caused controversy following his surprise defeat in his second fight in Beijing, saying he was relieved to be going home to his young family.

He was widely criticised, and later claimed his post-fight comment was misconstrued.

He won a place in the Olympic team by impressing at the 2007 AIBA World Boxing Championships in Chicago, where he won bronze.

Saunders, an orthodox boxer, first got into the ring at the age of seven.