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
President of the International Olympic Committee Games grew to become the most important sports event. De Coubertin created the modern pentathlon for the 1912 Summer Olympics. He subsequently stepped down from the IOC presidency after the 1924 Summer Olympics, which proved much more successful than the first attempt in Paris in 1900. He was succeeded as IOC President in 1925 by Belgian Henri de Baillet-Latour. De Coubertin remained Honorary President of the IOC until his death in 1937 in Geneva, Switzerland. Henri, Comte de Baillet-Latour was elected IOC President in 1925, after the founder of the modern Olympic Movement, Baron de Coubertin, stepped down from the