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
London Organising Committee of the Olympic and Paralympic Games formed to continue the work started by the bidding team. LOCOG was officially designated as the organisers of the Games at its first board meeting on 7 October 2005. The board members were: Members of the IOC from the host country are required by IOC rules to be on the organising committee board, as well as representatives of the host Olympic association and Paralympic association. The senior team comprised: London Organising Committee of the Olympic and Paralympic Games The London Organising Committee of the Olympic and Paralympic Games (LOCOG) was the organisation responsible for overseeing the planning and development of