Members of the IOC from the host country are required by IOC rules to be on the organising committee board, as well as representatives of the host Olympic association and Paralympic association.

LOCOG was officially designated as the organisers of the Games at its first board meeting on 7 October 2005. After the success of the London bid, LOCOG was formed to continue the work started by the bidding team. On 6 July 2005, the International Olympic Committee (IOC) chose London as the host city for the 2012 Olympic Games. The British Olympic Association received £5.3 million, the British Paralympic Association £2.6 million, and £20 million was returned to the Department for Culture, Media and Sport. On, it handed back to the government, Britain's Olympic committee and other beneficiaries a surplus of £30 million from the 2012 Games. The Olympics saw 10,000 athletes from over 200 countries participate across more than 35 sporting events. The organising committee, which was not responsible for building permanent venues, reported spent £2.38 billion since winning the bid in 2005 and generated £2.41 billion. The London 2012 Olympic and Paralympic Games focused the attention of the world on the city and the wider UK, delivering a summer of sport which united the public and inspired a generation. LOCOG worked closely with the publicly funded Olympic Delivery Authority (ODA), which is responsible for the planning and construction of new venues and infrastructure. It was jointly established by the UK Government's Department for Culture, Media and Sport, the Mayor of London and the British Olympic Association and was structured as a private company limited by guarantee. The London Organising Committee of the Olympic and Paralympic Games ( LOCOG) was the organisation responsible for overseeing the planning and development of the 2012 Summer Olympic and Paralympic Games.

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