The Evening Standard reported that the company is in exclusive talks with London Organising Committee (LOCOG) marketing chiefs over a deal, which is thought to be worth around £80 million
Negotiations with LOCOG have reportedly lasted more than two years due to the complicated nature of the cash and in-kind telecoms partnership deal.
A spokesman for BT said: " Becoming an official sponsor is something we are interested in but any sponsorship undertaking on this scale includes a multitude of commercial considerations which need to be looked at in a lot of detail."
BT was involved in London’s bid to host the 2012 Olympics and had already committed to underwriting the costs of a fibre-optic network installation in the Olympic Village.
