And the high-ranking IOC Executive Board member says everything possible has been done to ensure that there will be no white elephants after the Games.

He was speaking here at a press conference following the conclusion of the eighth IOC Coordination Commission.

"It surprises me when I come to England and read the newspapers and see negative reports about the legacy from the Games," said Oswald, who is also the President of the International Rowing Federation.

"Following our visit, I can categorically state London has fantastic legacy plans in place and that legacy is a key part of the 2012 Games.

"No other Olympic host city has ever given as much consideration to legacy as London has and I am sure that there will be no white elephants from these Games which is very pleasing for the IOC to see.

"There is an Olympic Park Legacy Company (OPLC) in place for the first time in the history of the Olympics and I am sure that these will be truly remarkable Games.

"Everything is on track and on budget and we could not be more impressed with what we have seen in our latest visit."

The Commission is set to return to London on two more occasions before the Games begin and Oswald says the lack of visits illustrates just how advanced the city's preparations are.

"When I was chairman of the Athens 2004 IOC Coordination Commission, I had to visit the city 25 times with just a year to go because preparations were so far behind," Oswald explained.

"With a year to go to London 2012, we will come here just two more times and I think that shows you how advanced the preparations are and how confident we are about the London Games.

"I think these visits are very valuable though as we can offer LOCOG important advice and our also our experience but there is no doubt that they are doing a fantastic job and we are very pleased."


London 2012 chairman Sebastian Coe, who sat alongside Oswald (pictured) during the press conference, praised the role of the IOC Coordination Commission in helping to stage the event.

"The huge expertise on hosting the Games that the IOC Coordination Commission provides us with is absolutely invaluable as we step up our preparations," said Coe.

"They are able to help us confirm that what we are doing is fully accurate with their expectations and we are extremely grateful to Denis Oswald and his team for the important advice they have offered us across a whole range of issues."

Oswald and Coe also dismissed the panic surrounding security fears at the Games after a female security guard was arrested yesterday near London's Olympic Stadium site on suspicion of possessing explosives and drugs.

The 40-year-old dog handler was held after her vehicle was searched but Coe confirmed that the incident was not terrorist-related.

"This was not a terrorist related incident and the police are dealing with it," Coe said.

"We are entirely confident with the security plans we have in place for the London 2012 Games."

G4S signed a deal last month to become the official security firm for the Games and Oswald claimed that the IOC Coordination Commission is fully behind the security plans in place.

"We have had several meeting regarding security at the Games and we have seen the detailed plans in place to prevent any threat to competition," he said.

"We are very happy with what we have seen and fully confident with these plans."

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