SPORTING legend Sir Steve Redgrave has pledged to use his new title to help raise more than £5 million for charity over the next five years.

Marlow Bottom's new knight, who received his award in the New Year Honours list on Friday, is aiming his sights at children's charities.

The five times Olympic Gold winner, whose profile has rocketed since his return from the 2000 Sydney Olympics, will be officially knighted at Buckingham Palace later this year.

Sir Steve said: "With the profile I now have I feel that I can try and raise some serious money for charity."

He plans to organise a series of charity golf events and added: "It's going to be called the Golden Five and the aim is to raise £5 million for charity in five years."

He has already started on the fundraising road only months after his Olympic glory. He and his wife Ann are running in this year's London Marathon.

He added: "I think we can raise some serious money from doing the London Marathon. The knighthood is certainly going to help with raising funds. Hopefully people will be a bit more prepared to listen.

"I'm training every other day, going out for runs. If I don't have a goal I will just drift along and not do any training."

Sir Steve and Lady Ann are also joint presidents of the Marlow Town Regatta and Festival and Sir Steve is set to have talks with the management committee.

He said: "I hope to have input into the regatta festival. It is very important that Marlow still has its big day. We had a letter from organisers a couple of days ago saying they were coming up with ideas. I do have some ideas but I will be sharing them with the organisers first."

But he said he would not be Dragon Boat racing at the June 16 river festival, an event expected to be featured.

Sir Steve's fellow gold-winning Olympians from the Sydney Games were also on the New Year Honours list including the other members of the all-conquering coxless four, Matthew Pinsent, awarded a CBE, and Tim Foster and James Cracknell, MBEs.

The press conference at Sir Steve's home on Friday was tinged with sadness as news of a missing Oxford University rower was announced. The lightweight crew, training in Spain, capsized and crew member Leo Blockley, 21, was missing, feared drowned, Steve said: "This is devastating. I feel for his parents and all his rowing colleagues."