An announcement was expected earlier, but the British Olympic Association, the government and the Mayor of London Ken Livingstone, have all said that they need more time to discuss the bid which could cost up to £30m ($44m/B47m).
The timing of the announcement is likely to get the approval of UK sports minister Richard Caborn. He indicated that Manchester 2002 would be looked upon as a key indicator as to whether Britain can stage a major international event.
Philip Pope of the British Olympic Association said: “We have been involved in a methodical process for the last three years. There is no rush, we have until February 2004 to let the powers that be know that we intend to bid.”
In July Ken Livingstone and the government agreed to fund a £250,000 ($366,000/B395,000) cost analysis of a London bid. A subsequent study from the British Olympic Association identified potential sites for a new Olympic Stadium at Stratford.
Other contenders for the 2012 Games include Paris, Moscow, Madrid and Munich.
