London has finally declared itself in the running to host the 2012 Olympic Games. The decision came after months of speculation over whether the government would back the move
It is estimated that the cost of hosting the Games will be in the region of £2.6 billion, with the bid alone costing £17 million.

Stratford in East London is where most of the facilities are to be built for the Games, providing the area with much-needed regeneration. Venues to be constructed include the main athletics stadium, an aquatic centre and a velodrome.

There will also be an Olympic village, which early proposals suggest could be converted into low cost housing after the event. Much focus will be on how London's already stretched transport network will cope with the extra load during the games, and it will require meticulous planning to ensure the infrastructure runs smoothly.

The British Olympic Association has until January 2004 to submit its dossier to the International Olympic Committee (IOC) on issues such as transport, venues security and sustainability. The formal bid must be entered in November 2004. Between February and March 2005, the IOC evaluation commission will visit each of the bidding cities which also include Paris and New York. The 128 IOC members will then meet in Singapore in July 2005 to make a decision and announce the winner.