UK travel agent Thomas Cook has been unveiled as the latest sponsor of the 2012 London Olympic Games becoming a tier two sponsor in a deal believed to be worth more than £20m.

The company are planning to provide short breaks and trips to the Games, providing more than 250,000 packages including accommodation, transport and event tickets for people attending the Games in east London.

The organisers of the London Olympics have now raised about £550m of the £700m sponsorship target, with 23 domestic sponsors.

Lord Coe, chairman of the London Committee of the Olympic Games (LOCOG), said: “Thomas Cook is the perfect partner for us and will help us deliver our promise to make sure as many people as possible can see the action in 2012, no matter where they live”.

Manny Fontenla-Novoa, Group Chief Executive Officer for Thomas Cook Group plc said, “More than a century after Thomas Cook escorted British travelers to the first modern Olympic Games in Athens in 1896, it is a privilege to once again have the chance to give British families and sports fans the opportunity to experience such a rare and special event in their own country.

“As a company we are incredibly proud that Thomas Cook will be a leading brand in this most prestigious global event. The Olympic and Paralympic Games in the UK is such a rare and fantastic opportunity and will further enforce our position as the UK’s oldest and most trusted name in travel.”