By Duncan Mackay at the London Stock Exchange 

Queen Elizabeth_Olympic_Park_post_2012_2February 27 - A £10 million ($16 million/€12 million) Olympic Museum will be opened in the Queen Elizabeth Olympic Park after London 2012, it was announced today.

The proposals, announced today here by the British Olympic Association (BOA) in the presence of Olympic and Sports Minister Hugh Robertson, are for the Olympic Museum to open in 2014 and be situated adjacent to the ArcelorMittal Orbit tower, within site of the Stadium.

It is expected to become a leading visitor attraction on the Olympic Park, BOA chief executive Andy Hunt claimed.

The British Olympic Museum will provide members of the public with a venue to re-live the excitement, passion and drama of the London 2012 Games, he promised.

"As the only city to have earned the honour of hosting the Olympic Games three times, London occupies a truly unique place in Olympic history," said Colin Moynihan, the chairman of the BOA.

"It is a feat we should be immensely proud of and I believe the British Olympic Museum is the perfect way to ensure the spirit, excitement and unforgettable memories of the London 2012 Games live on to inspire future generations to follow their own dreams.

"We look forward to working in partnership with the Olympic Park Legacy Company and we are grateful for the support received from the International Olympic Committee (IOC)."

Several elements of the museum have been planned already, including 2012 Olympic Memories, a "celebration of a unique, once in a generation event in the UK" and Faster, Higher, Stronger, a guide to all the summer and winter Olympic sports.

London 1948_tickets
There will also be a section devoted to the 1908 and 1948 Olympics, staged at White City and Wembley respectively.

"Given the lack of physical legacy remaining from the 1908 and 1948 Games, we are delighted that the Museum will be created to tell the story of the 2012 Games long after the curtain comes down," said Moynihan.

"Crucially, it will create a permanent touch-point with the public on the Queen Elizabeth Olympic Park and will be a great complement to the many excellent sporting venues.

"The museum will also provide an important opportunity to honour and celebrate the most outstanding British Olympic athletes and create a platform for their stories to inspire generation upon generation of future sport participants with their achievements.

"We are now looking to the Olympic Partners and individuals to help make this legacy project a great success."

Hunt estimated that the cost of setting up the Museum and running it for three years will be £10 million ($16 million/€12 million) a sum the BOA hope to raise from sponsors and individual donors.

The idea has been greeted enthusiastically by Jacques Rogge, the President of the IOC.

"It was with great pleasure that I received the BOA's intention to open a British Olympic Museum within the Olympic Park after London 2012," he said.

"I am a firm believer that the Olympic Games are not only about gold medals, world records and unforgettable sporting competition.

"At their core they are about people. They can bring out the best of humanity and all that we can achieve when we strive to be the best at something.

"The new British Olympic Museum is the place where these stories of human triumph and sacrifice will come to life and it will become part of the lasting legacy that London 2012 will leave the UK for generations to come."

Contact the writer of this story at [email protected]

Related stories
December 2011: Olympic Park should be marketed as family attraction following 2012 Games, says report