Britain faces stiff rivalry Olympics

LONDON'S OLYMPIC BID: Britain yesterday launched its bid to bring the 2012 Olympic Games to London. Ken Livingstone, the capital's mayor, declared that London had a "one-in-three chance of winning", while British Culture Secretary Tessa Jowell said the government was "wholeheartedly" backing the bid.

She told a press conference at City Hall, attended by sports minister Richard Caborn, officials from the British Olympic Association and international sports stars, that Prime Minister Tony Blair was "100 per cent" behind the bid.

Jowell and Livingstone have agreed a £2.3 billion funding package for the games if the bid is successful - double what consultants Arup estimated it would cost. The bid alone will cost £17 million. This is to be funded by the British Government, business and the London Development Agency.

Of the decision, which was made after months of delays, Jowell said: "This is not just about bidding, it is about a very particular vision about sport and life in the UK. We will take this bid forward and do everything we can to ensure we can do none better,"

Livingstone said: "I believe that we have a one-in-three chance to win this. This is an Olympic city par excellence. The whole world is collected here in one town. Olympic officials are aware of that."

The funding package would be spent on new facilities, much-needed transport infrastructure improvements and the other costs of smoothly running a successful games.

If the bid is successful Londoners face an annual £20 hike in council taxes from 2006 in order to help raise £875 million to meet this cost. The rest will be split between the LDA, which will provide £250 million, and the National Lottery, which will launch a new Olympics-themed game to raise further funds.

Livingstone said: "The financial deal is in place for the decade to come. We are very close to identifying the people that will lead this bid - people of international standing."

London faces tough competition in the race to stage the greatest show on earth. The capital will be bidding against hot favourite New York, as well as hopefuls Madrid, Leipzig and Havana. Paris is also expected to throw its hat into the ring.

The final decision will be made by the International Olympic Committee in July 2005.

Meanwhile, the English Football Association are set to examine the possibility of a Great Britain football team taking part in the event.

As the four Home Nations are individually recognised by UEFA and FIFA with separate national sides, they do not take part in the Olympics, when there is a Great Britain team in all sports.

There could still be considerable hurdles to overcome, with the other home nations understood to be worried about losing their separate status if a Great Britain team is formed, even as a one-off.