Following the announcement that London has won its bid to host the Olympics in 2012, the Sports Business Group at Deloitte has called for more emphasis to be placed on funding for sporting events in the UK.

Dan Jones, head of the Sports Business Group, said that in order to ensure that the 2012 Olympic Games lives up to expectations, decisions on funding and where it will go, need to be made now.

“Getting more money into sport in the right way is a central message on which UK Olympic success will hinge,” he said.

“Perhaps now, with renewed energy and a sense of national pride, we can use this as a springboard to improve sport in the UK and win a large number of Olympic gold medals in 2012.

“This historic decision is an opportunity to make a fundamental change in British society and position UK sport as a top public priority for the future.”