"To our friends among the other Candidate Cities we offer our congratulations and our commitment to fair and friendly rivalry in the months to come."

"We at London 2012 also reach out to our friends among the other cities who have competed with great honour and dignity. We know that they will build on their achievements and return to compete another day."  

Ms Cassani said London's Candidate City acceptance signalled the start of a new phase in the city's bid, based around the priorities of Olympic Movement and especially the needs of athletes.

"The welfare of the athletes will be a priority for London," she said. "We will create the best possible conditions to help the world's athletes reach new levels."

"Today marks the beginning of a new and critical phase in our voyage towards the 2012 London Olympic Games," she added.

"For the next six months we will be intensely active on all fronts to ensure that we submit the best possible dossier to the IOC in November. We recognise that we're competing against strong rivals, so nothing can be left to chance.

"We'll be completing our detailed venue lay-outs, finalising our operational strategies for transport, accommodation and security, and consolidating our excellent relationships with our stakeholders, partners and supporters."