London 2012 Signs BMW As Official Auto

With an announcement slated for later today, BMW will be unveiled as London 2012's latest tier one sponsor, in a deal thought to be worth between £30-£50 million.

The deal, likely the last tier one partnership to be signed, moves London 2012 closer to the upwardly revised £700 million sponsorship forecast for the Games.

"Operationally, an automotive deal is vital for any organising committee and so I'm thrilled BMW is on board," said London 2012 chairman Lord Coe.

"They share our vision to stage a sustainable Games in 2012 and will be a valued partner. On a commercial level, signing another Tier One Partner in this challenging environment is a fantastic achievement but it goes to show the inspirational power of the Olympic Games and Paralympic Games."

As part of the sponsorship, BMW will provide over 4,000 cars, including the Mini brand, to support official transportation at the London Games. BMW will have to meet strict low emission standards as part of the agreement.

Volkwagen was the official automobile of the most recent Olympic Games in Beijing.

BMW joins Adidas, BP, British Airways, BT, EDF Energy and Lloyds TSB as London 2012's seventh tier one partner.