Coe welcomes news of Tour de France in London

"This is fantastic news for the London and will be this will be a good rehearsal for the London 2012 Olympic Games and Paralympic Games," said the double Olympic gold medallist.

"Hosting the presitigious first stage of the Tour de France will be an exciting event watched by millions and will showcase the capital.

"London is a world class city and one of the benefits of winning the right to host the Olympic Games and Paralympic Games is that London and the rest of the UK will host more and more major sporting events over the next few years."

The Tour de France is the largest annual sporting event in the world, watched by 15m people live.

The British leg is likely to attract 2-3m people along the route.

Transport for London estimate the event will give a £50m to the London economy, and more to the South East.

Mayor of London Ken Livingstone has also welcomed the announcement:

"Hosting the first stage of the legendary French cycle race will raise the profile of cycling in the capital, attract visitors and promote the capital as a venue for international sporting events.

"Cycling in the capital is growing faster than anywhere else in Europe.

"I want London to become a world-class cycling city and Transport for London has increased investment in cycling from £5.5 million in 2000, to £24 million this year."

25 January 2006