The statue (pictured above) is located in Woolwich, just off Dial Square within the Royal Arsenal, and was presented to the Royal Borough of Greenwich as a gift to London for staging this summer's Olympic Games.

It follows a ritual that has taken place at every Games since Atlanta 1996.

Mayor of Royal Greenwich David Grant was joined by sculptor Pavlos Angelos Kougioumtzis and the Mayor of Ancient Olympia Efthymios Kotzas.

Sculptor Pavlos Angelos Kougioumtzis, Mayor of Royal Greenwich, Mayor of Ancient Olympia and leader of Greenwich Council Chris Roberts in front of the Nike statue

Grant said they were "very proud indeed to be the recipient" of a "wonderful gesture of generosity and of altruism".

Leader of Greenwich Council Chris Roberts added: "When, in accordance with tradition, London was offered the statue of Nike as a gift from Ancient Olympia, I think it's fair to say that Greenwich was out of the starting blocks faster than Usain Bolt.

"It is a great honour for us to have been chosen to receive this gift on behalf of London."

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