'The article in today’s Evening Standard is misleading and the story is not based on LOCOG’s financial accounts. LOCOG is delighted with the progress it has made in attracting commercial partners for London 2012, including the recent announcement of BP as its sixth Tier One partner. Contrary to what it says, we do not have any “gloomy forecast” in our accounts. In fact, we are confident that we have set realistic revenue targets, including our sponsorship goals, and that we will achieve all our objectives.
'Clearly the global economic environment is tougher than it was two years ago, but this validates our decision to start fundraising six years before the Games come to London, and we have not seen any decline in interest in this once in a lifetime sponsorship opportunity.'
