The UK's leading sport governing bodies have teamed up to launch a new fundraising partnership ahead of the London Olympic games in 2012.

Called Team 2012, the partnership includes the London Organising Committee of the Olympic Games (LOCOG), UK Sport, the British Olympic Association (BOA) and the British Paralympic Association (BPA).

The group will offer potential sponsors a deal that enables branding on pre-2012 events, including the opportunity to get involved in the UK's talent identification plan 'World Class Performance Programme' (WCPP).

Team 2012 has been set up as part of a strategy to attract small and medium-sized businesses to getting involved in sponsoring 2012 initiatives.

The funds raised by Team 2012 will be primarily spent on pursuing the WCPP, while other projects include an Olympic coaching training programme, which is to be run by the BOA.

The Team 2012 scheme was announced just two months after the government admitted that it had failed to reach its original target for securing private backing to fund the Games.