The London 2012 project is delivered by two key organisations – one private, one public.
A privately funded Organising Committee
The London Organising Committee of the Olympic Games and Paralympic Games Limited (LOCOG) is a private company responsible for the planning, funding, preparation and staging of the London 2012 Games.
The company has a core budget of over £2 billion, with almost all revenue raised from the private sector.
LOCOG receives income from the International Olympic Committee (IOC) as well as generating revenue from ticket sales, merchandise and a domestic sponsorship programme. See our international and UK partners
A public sector delivery organisation
The Olympic Delivery Authority (ODA) is the public sector body responsible for developing and building the new venues and infrastructure for London 2012, and their use afterwards.
The ODA is funded by the Department for Culture, Media and Sport, the Greater London Authority and the Olympic Lottery Distributor.
This funding is contributing to the construction of the venues and infrastructure in the Olympic Park, the Lea Valley White Water Centre, and the enhancements to facilities at Weymouth and Portland, and Eton Dorney.
£2.2 billion of National Lottery funds are helping to create the facilities to host the Games, providing a legacy for the people of east London and the wider UK. The Lottery will share in the profits made from land and property sales in the future.
As well as the funding that the National Lottery is providing for the venues and infrastructure for the London 2012 Games, the Olympic Lottery Distributor is providing LOCOG with a grant of £66 million from National Lottery funds specifically for the Paralympic Games. The grant was agreed by the OLD Board in October 2011 and represents just under a third of the budget for the Paralympic Games.
The National Lottery is also playing a key role in funding work that will lead to increased participation in sport at a community and grassroots level and deliver improved community services and facilities.
The Department for Culture, Media and Sport
The Government Olympic Executive in the Department for Culture, Media and Sport (DCMS) leads for Government on delivery of the London 2012 Games. It reports to Jeremy Hunt, the Secretary of State for Culture, Media and Sport.
The DCMS is responsible for managing central Government funding for the Games and wider regeneration costs. It is also responsible for bringing together the legacy benefits brought by the UK-wide sporting, cultural, environmental, educational and business initiatives that will take place as a result of the Games.
From 14 May 2012 until the end of the Paralympic Games, Government Olympic Communication will provide a central media service on behalf of the UK Government to help journalists with all enquiries about the Government’s role in delivering the Games, as well as wider questions about life in the UK.
The Greater London Authority
The Greater London Authority (GLA) is working to deliver the Mayor’s objectives for the London 2012 Games, and ensuring that hosting the Games brings the best possible benefits for Londoners.
The GLA is contributing £925 million to the Olympic Delivery Authority. This money will be spent on the regeneration, infrastructure and facilities that will continue to benefit Londoners for generations to come.