The chance to turn this into a lasting Olympic legacy for the UK must not be missed.
Plans to close swimming pools in Manchester are a "betrayal" of the Olympic legacy, campaigners have claimed.
Two senior members of staff have been suspended from the Olympic Legacy Directorate (OLD), a department within the LDA, following the discovery.
Sir Steve Redgrave and Katherine Grainger attended Marlow Rowing Club after it received the sum from the Iconic Facilities Olympic legacy fund.
London Mayor's adviser on Olympic legacy, Neale Coleman, said Lord Coe, who spearheaded the games, thought the idea would be a "fantastic follow-up".
General secretary of the National Union of Teachers, Christine Blower, said the Olympic Legacy was alive and well and being nurtured by our PE teachers.
"The government is determined to do everything possible to secure the Olympic legacy and I am delighted to grant this exemption, " Mr. Osborne said in a statement.
However, I put it to you, ladies and gentlemen, that we will see one part of the Olympic legacy made flesh on display today on London's streets.
"We were promised a strong Olympic legacy but the Government has chosen not to adopt the target of one million more people participating in sport by 2013, " Hodge said.
CNN: London 2012 Olympics bill set to rise again, report says
When it was announced that the Olympics were coming to London, Cwmbran hadn't long had a refit and we were all optimistic about it being the focal point of capitalising on the Olympic legacy in south Wales.
Alex Richardson from Gladiator Programme said community sports groups were not getting money and there was no Olympic legacy or new facilities for Easterhouse despite it being used as a key element of the Commonwealth games bid.
Be sure to stop by the Roundhouse Lodge, at the top of Whistler mountain, to check out its Olympic Legacy display , which includes such prized memorabilia as Swiss Olympian Didier Defago's gold medal winning Rossignol skis and a wood-carved replica of the medals podium - where every athlete, no matter how skilled, can snap a photograph of a personal Olympic moment.
The Olympic Park Legacy Company (OPLC) is hoping to select a tenant by March 2011.
The Hammers and Newham Council formally delivered their bid to the Olympic Park Legacy Company earlier in the day.
BBC: West Ham deliver 2012 Olympic Stadium bid to Downing St
Details of the new contracts for the three venues are to be set out by the Olympic Park Legacy Company.
The Olympic Park Legacy Company is in the middle of the process of deciding who will take over the 80, 000-seater venue in east London, after the Games.
But the club is also asking the High Court to examine the Olympic Park Legacy Company (OPLC) decision to award the stadium to West Ham, Leyton Orient said.
BBC: Leyton Orient in 2012 Olympic stadium High Court action
It comes after an Olympic Park Legacy Company (OPLC) employee was suspended when it emerged she worked for West Ham during their bid to use the stadium in London after the 2012 Games.
The Olympic Park Legacy Company, which is overseeing the process and hopes to select a tenant by March next year, would not say how many firms had expressed interest in the east London arena.
Agencies such as Transport for London, the Olympic Park Legacy Company and the Department for Culture Media and Sport all have a role to play in keeping the promise during, and also after, the games.
The Olympic Park Legacy Company's recommendation for the 2012 site has to be ratified by two government departments - the Department for Culture, Media and Sport, and the Department of Communities and Local Government - and the London mayor's office.
West Ham began inquiries after a newspaper reported in July that the club paid a member of staff at the Olympic Park Legacy Company (OPLC) for consultancy services and mentioned "bank and telephone records... obtained by corporate investigators hired by Tottenham Hotspur".
London Mayor Boris Johnson has called the event "a fantastic feast of velocipedes" and said it was part of the Olympic Games' legacy.
"Securing the future of the Olympic and Paralympic legacy and building on the regeneration of east London is a matter of huge importance to me personally, " said Mr Johnson.
"No project received a larger investment from our Olympic and Paralympic legacy fund and I'm confident this facility will be a source of pride for the region where local people will be inspired to develop a sporting habit for life, " he said.
The government has published a 10-point plan for securing a lasting legacy from the Olympic Games.
In September, the government published a 10-point plan for securing a lasting legacy from the Olympic Games.
Home to two ice rinks, 18 badminton courts and 10 regulation-size basketball courts, the complex is one of the only legacy buildings - Olympic facilities built specifically to remain after the Games end - that hosted competition.
We believe ours is the only bid that can deliver London's legacy commitment to the International Olympic Committee.
London's recently-elected mayor, Boris Johnson, recently criticised organisers of the 2012 games, saying there was no "legacy masterplan" for the Olympic venues.
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