By Ben Kilbey in London
Its official London has secured the bid to host the 2012 Olympics. Following a spectacular presentation by Lord. Coe and an arduous bidding process which has spanned 18-months, England’s Capital will be flying the flag in 2012. The other contenders - Moscow, New York and Madrid - were eliminated in the first three rounds by International Olympic Committee (IOC) members.
There is mass jubilation on the streets of the capital as the true magnitude of what has been succeeded begins to sink in.
High ranking sports stars such as David Beckham attended the final bidding process in Singapore and it is thanks to this kind of commitment and the power of the countries voting populace that London will host the 2012 Olympics.
Kelly Holmes flew the flag in Trafalgar Square where thousands flocked during their lunch breaks to witness the historic moment, which was announced at 1249 BST.
It will be the first time the Olympics have been held in Britain since 1948.
UK tourism chiefs are predicting the Games will be worth £2 billion to the industry.
More news as it arrives