Speaking at the "More than Just Medals" conference in London, Coe said London 2012 Olympic organisers were committed to maximising an increase in sports participation at community and grass roots levels.
"Winning the Olympic Games and Paralympic Games represents the single biggest opportunity in our lifetime to transform sport and participation in sport in the UK forever, "Coe told sporting groups, associations and bodies at the conference organised by the Central Council of Physical Recreation (CCPR).
"We have a unique opportunity that we must not squander to increase participation in sport, at community and grass roots levels as well as elite levels; from the school playground to the winner's podium," Coe said.
Increased participation in sport is a key goal underpinning legacy commitments and objectives designed to deliver improved community services and facilities as well as enhanced sporting opportunities from the London 2012 Games.
Approved by the Olympic Board, the objectives include a commitment to achieve a sustained improvement in UK sport at Olympic levels and in grassroots community participation.
The strategic objectives, which underlie London's vision of hosting an inspirational, safe and inclusive Olympic and Paralympic Games that leave a sustainable legacy for London and the UK, also include commitments to:
- To stage an inspirational Olympic and Paralympic Games for athletes, the Olympic Family and the public
- To deliver the Olympic Park and all venues on time and within budget to minimise the use of public funds and provide a sustainable legacy
- To maximise the economic, social, health and environmental benefits of the Games for the UK, particularly through regeneration and sustainable development in East London.
The London Organising Committee of the Olympic Games and Paralympic Games (LOCOG) and the Olympic Delivery Authority (ODA) are continuing to assess in detail how the concept for the London Games best fits into the wider regeneration of the community.
"The concept for the London Games will be tested, verified and validated in order to achieve the best possible balance between the long-term planning and infrastructure needs of the community with the short term needs of cutting edge facilities for the Games," Coe said.
"The Games provides us with a unique opportunity to fast forward the regeneration of a hard pressed area by 25, 50 or even 100 years."
LOCOG CEO, Paul Deighton said community regeneration is at the heart of commitments to maximise opportunities from the London 2012 Olympic and Paralympic Games to create a bright new future for sport linked to long term community benefits.
"We are not just creating a sports park, we are helping to regenerate a community," said Deighton. "We are not just putting in new stadia. We will be putting in utilities that can support a community and house thousands of people in new homes with new schools and hospitals."
Increased participation in sport was also central to London 2012's vision to inspire more people into sport and would be overseen by the Olympic Board, which includes representatives from the UK Government, Mayor of London and British Olympic Association.
Coe said the Olympic and Paralympic Games could help to boost participation in non Olympic sports. "The Games can inspire people outside of a purely elite sporting context to participate in sport in ways that are relevant and meaningful to their own particular circumstances and needs," Coe said.
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For further information, please contact the London 2012 Press Office on +44 (0)203 2012 100 or visit the website at
www.london2012.com