London bid for the 2012 Summer Olympics being selected by the International Olympic Committee (IOC) when put up against other world cities in a competitive bidding process. On 6 July 2005 at its 117th Session in Singapore, the IOC awarded London the right to host the Games of the XXX Olympiad. The city beat the favourite Paris 54 to 50 on the fourth and final ballot. London is the first city to host the Games three times. At the time of the bid, the budget projection was around £2 billion, but it was later estimated that the true cost would be around £9 billion. The project involved
Bids for the 2012 Summer Olympics Tony Blair. A public statement by IOC President Jacques Rogge dismissed these accusations, stating that the competition had been fair. Another controversy occurred during the bidding process when an undercover investigation by British television series "Panorama" revealed a corruption scandal associated with IOC member Ivan Slavkov and Olympic agents, who offered to deliver votes from IOC members to any 2012 Olympic bid in return for financial favours. Still recovering from the effects of the Salt Lake City scandal, the IOC reacted swiftly and punitively toward the rule-breaking individuals. The Olympic bidding process begins with the submission of a city's application