5.On 15 May 2003, the Government announced its intention to support a bid to stage the 2012 Olympic and Paralympic Games in London. Two months later the British Olympic Association officially notified the International Olympic Committee that London would bid to stage the 2012 Olympics. The bid had three main stakeholders - Government, the Mayor of London and the British Olympic Association - who together established the bid company ‘London 2012’ to take forward the bid on their behalf. The Mayor and Government agreed a Memorandum of Understanding setting out how a Games in London would be funded in May 2003. This provided for contributions to be made from London council tax receipts and from lottery funds. In order to provide a new Olympic-specific lottery game, legislation was required. This was provided in the Horserace Betting and Olympic Lottery Act 2004.
6.In total, nine cities submitted bids to host the 2012 Games: London, New York, Paris, Madrid, Moscow, Leipzig, Istanbul, Rio de Janeiro and Havana. In May 2004 the IOC cut down the shortlist to five ‘candidate’ cities – London, Paris, Moscow, Madrid and New York. On 15 November 2004 London submitted its proposals to the IOC for a London Games (the Candidature File). The Candidature File sets out, for example, information on the venues, transport, Games schedule and financing of a London Games.
7.On 6 July 2005 the IOC announced that it had selected London to host the 2012 Olympic and Paralympic Games. On being awarded the Games, the city is immediately required to enter into the ‘Host City Contract’. This contract covers the obligations of the parties to that contract, which include fulfilling all commitments made in the bidding process, and IOC requirements relating to the Games, the majority of which are set out in the IOC’s Technical Manuals. Immediately after London was announced Host City for the 2012 Games, the Mayor of London (on behalf of the city) and the British Olympic Association signed the Host City Contract with the IOC.