London Caves In

The London bid team for the 2012 Olympics has caved into pressure from the IOC, and withdrawn the offer of inducements for national sporting bodies.

The IOC Ethics Commission had been asked to examine the financial incentives offered by London and New York.

The London bid team issued this statement:

"In light of President Rogge's remarks and the importance of London 2012's commitment to working in close co-operation with the IOC, we feel it is in the best interests of the Olympic movement to withdraw the charters at this stage..The IOC President has made clear that all candidate cities need to avoid a bidding war in the race to host the Olympic and Paralympic Games in 2012."

London had promised to give a $50K credit to each National Olympic Committee towards the cost of using British training camps, as well as air fares for team members and discount cards for restaurants, shops and theatres.

It had also offered free accommodation and living expenses for technical delegates from international sporting federations, to stay in London for up to a year to oversee preparations.

Meanwhile, in a twist of fate, New York's bid team was cleared of any wrongdoing by the IOC over their offer of inducements.

The IOC Ethics Commission ruled that the creation of an Olympic Sports Marketing Council was an integral part of New York's bid, and that there was no case to answer.