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
2004 Summer Olympics on the floor. Short speeches were presented by Gianna Angelopoulos-Daskalaki, President of the Organising Committee, and by President Dr. Jacques Rogge of the IOC, in which he described the Athens Olympics as "unforgettable, dream Games". Dr. Rogge had previously declared he would be breaking with tradition in his closing speech as President of the IOC and that he would never use the words of his predecessor Juan Antonio Samaranch, who used to always say 'these were the best ever games'. Dr. Rogge had described Salt Lake City 2002 as "superb games" and in turn would continue after Athens 2004 and