Desperate Diamond to sell Olympic medals

Shooting champion Michael Diamond is reportedly auctioning his two gold Olympic medals to pay his debts.

Diamond, who participated in six Olympics and won gold in 1996 and 2000, was acquitted after an 18-month legal battle over drink-driving and firearms charges.

It left him $200,000 in debt, The Sunday Telegraph reports.

"It's not just ruined me financially but my reputation, too," he said.

"I couldn't earn a living. I approached a lot of people for work but it fell on deaf ears. That's why I'm so desperate now."

Diamond told the paper he needed the money to pay rent and for his daughters' school fees.

"I've got three beautiful young girls," he told the paper.

"That's all that matters to me. Their schooling and upbringing.

"That's why I'm prepared to make this sacrifice. It's an absolute last resort."