Clegg, a key figure in inspiring London's successful bid for the 2012 Olympics who was also British Chef de Mission at the Salt Lake City 2002 and Beijing 2008 Winter and Summer Games, was among 29 well-known names to settle damage claims with the company, which owns British daily newspaper The Mirror.

Olympic gold medallist Audley Harrison and former England international footballer Sol Campbell have also agreed a compensation package.

Clegg, a former soldier, was given a public apology at the London High Court and has also received a written apology.

The 57-year-old initially reported potential phone hacking to police following the launch of Operation Weeting, an investigation into the actions of the now defunct News of the World.

Metropolitan Police informed him "some time later" that his name and mobile number had been found in the notebook of self-confessed hacker Dan Evans, a previous employee of Mirror Group Newspapers who was spared jail in 2014 for his role in The Sun phone hacking scandal.

"I am pleased and relieved that this matter has finally come to a close," said Clegg.

"It's been a long and sometimes difficult road, though necessary given my privacy had been illegally compromised.

"As well as a financial settlement I have also accepted both the public and private apologies offered by Mirror Group Newspapers.

"Since I consider this matter now closed I will not be making any further statements related to this case."

Clegg’s case against The Sun continues.

He was given permission to carry on with a High Court action in London against The Sun over allegations of phone hacking earlier this year.

It came after the newspaper failed to get the civil litigation thrown out at a pre-trial stage.

News Group Newspapers, the owners of The Sun, has settled more than 800 hacking claims against the News of the World so far.

The News of the World was closed down in 2011 following phone hacking allegations.

Clegg, who went on to become chief executive of Ipswich Town Football Club between 2009 and 2013, served as chief operating officer of last year's European Games in Baku.

It was announced in March that he had been appointed as the chief operating officer at Expo 2020 in Dubai.