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| | Friday, 27 July, 2001, 15:55 GMT 16:55 UK London weighs up Olympic bid  Winning feeling: Beijing officials celebrate London's attempt to capture the 2012 Olympics has moved a step nearer after a meeting between Government officials, the British Olympic Association (BOA) and the Greater London Authority. Sports minister Richard Caborn has revealed that financial experts will be appointed to work out the cost of staging such a massive event. "All the considerations have now been formulated in a scoping document which will go out for professional consultation," said Caborn. "It is very important the resulting cost-benefit analysis deals comprehensively with the questions identified to the satisfaction of all three stakeholders. "All issues will be reviewed against a strategic view of what is needed in sport in the UK over the next 20 years."
It is now far more likely that the International Olympic Committee will consider a European city for 2012. But London is likely to face competition from Toronto, Rome, New York, Moscow, Paris and Berlin. A final decision on whether London launches a bid will be taken in 2002 and only when all bodies - known as the stakeholders group - are agreed. The cost of hosting the Games would run into billions of pounds - a bid alone will cost in the region of �35m - with transport infrastructure and urban regeneration topping the bill. London mayor Ken Livingstone views the Games as an opportunity to redevelop east London, as the event would be based in Stratford, near Hackney. The IOC has already indicated that London is the only viable British candidate. | | See also:  Other top Other Sports stories: Links to top Other Sports stories are at the foot of the page. | |
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