London is to host the 2012 Olympic Games

Sports Minister David Hanson said he hoped Northern Ireland could attract events in the run up to the games.

There are plans for an Olympic-size swimming pool, and it is hoped the proposed new sports stadium could host soccer games during the tournament.

Mr Hanson was speaking during a visit by Lord Coe from the Olympic committee.

Lord Coe's visit to Northern Ireland marked the start of regional involvement in the London games.

Mr Hanson said that government's investment in top class facilities and the 2012 Games would ensure Northern Ireland sports men and women had the "best opportunity to compete on the world stage".

David Hanson announced the sports funding

"Approximately �50m has been provisionally allocated for high priority sports infrastructure projects identified by the Sports Council for Northern Ireland," he said.

"The money will be allocated through a series of bid competitions which will be handled by the Strategic Investment Board Ltd (SIB) and the Sports Council.

"The first competition will be advertised tomorrow. It will seek expressions of interest from project promoters for an Olympic-sized swimming pool and the winning project could attract up to 75% of the capital costs."

Preparation camps

It is planned to have the elite facilities for Olympic sports in place and operational by 2010.

The minister said he had asked a number of people from sport, business, local government, tourism and the cultural sectors to join the new Olympics Northern Ireland Task Force.

They will help implement a strategy to enable Northern Ireland to compete for preparation camps and holding camps.

Details of the competition for the 50-metre swimming pool will be advertised in the main Northern Ireland newspapers on Friday 3 March.

One of the things that we consistently said throughout the whole bidding process was that this had to be UK-wide Lord Coe

The winner of the swimming pool competition will be announced in early 2007. The needs of the other sports will be addressed by a subsequent competition process later this year.

Lord Coe told an audience of athletes, schoolchildren and politicians at Hillsborough Castle: "One of the things that we consistently said throughout the whole bidding process was that this had to be UK-wide."

He added: "I am very grateful today at the minister's announcement and for having helped everyone in this room nudge sport a little higher up the political agenda, those ambitions have actually been recognised at governmental level."

SDLP culture, arts and leisure spokesman Pat Ramsey said Northern Ireland would have an important part to play in the Olympics.

"Local people, and in particular local young people, need good sporting facilities to encourage keep-fit and staying active, which is vital for all our health," he said.

Sinn Fein sports spokesman Thomas O'Reilly said the money "must get to grassroots organisations and schools to support the development of the athletes of tomorrow who can strike for gold in the Olympics".

"It must also be shared out fairly across the north so that everyone has access to the top class facilities that it will finance."

"There is clearly an opportunity to use this cash boost to drive forward sporting cooperation across the island of Ireland. The culmination of such an approach could see more Irish Olympic gold medal winners."

The Alliance Party's Michael Long said it was essential the elite sporting facilities became a reality.

"We must ensure this vision becomes a reality. Constant pettiness will get us nowhere," he said.

Former UUP Stormont Sports Minister Michael McGimpsey said the Olympic pool would boost local talent and could be used to stage other sporting competitions.

"However, while I recognise the importance of a swimming pool, I hope that the needs of other sports will be addressed," he said.