UPS on board for 2012

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The deal is believed to consist partly of cash and partly of value in kind, and to be worth around £20million.

UPS will serve as the lead logistics and express delivery supporter of the London Olympics.

London 2012 Organising Committee chairman Sebastian Coe said: "Having one single supplier to handle the majority of our complex transportation and logistical needs will benefit everyone.

"Our commercial programme continues to attract global interest and I'm thrilled that yet another high-profile brand is on board."

UPS becomes the 22nd domestic commercial sponsor of the Games and will be involved in various tasks, including taking control of the storage and processing of sporting items and equipment.