Olympics - London 2012 Told To Clarify Costs

The International Olympic Committee has asked London 2012 organisers to clarify the funding of the Olympic Park in an effort to calm fears over rising costs.

The IOC is concerned recent controversy in the UK over the financing of the Games is damaging the Olympic brand and discouraging future host cities.

"We have no doubt London will deliver on time," said IOC executive director for Olympic Games Gilbert Felli.

But he added: "We need to have a clear picture of it."

The IOC is scheduled to visit London at the end of the month.

"We have asked our friends in London to present this breakdown of different aspects of the Olympic Park so we have a better clarity," said Felli.

The cost of hosting the 2012 Olympics was orginally estimated at £2.4bn but that figure has already risen to £3.3bn.

Some media reports have suggested it could rise as high as £9bn.

The National Audit Office has said the government's failure to set a budget for the Games was a "major risk" to their success.