March 8 - The new £95,000 logo for Glasgow's 2014 Commonwealth Games has today been unveiled at an event in the city.

Organisers say the concept behind the logo is derived from time, data and measurement, with four distinctive parts.

The outer ring symbolises the fact that it is the 20th Commonwealth Games, the yellow ring which is 17/20th of the size of the outer red ring symbolises the 17 sports on the programme, the blue ring, which is 11/20th of the size of the circle represents the 11 days of the event, and the G in the centre represents Glasgow, the colour reflecting the Gaelic meaning of the city's name, "Dear green place".

The new logo will replace the interim and bid logo which was used during the time the city was bidding for the Games and immediately after the bid was approved.

The new brand identity for the event was made public on what is Commonwealth Day, a day marking the Commonwealth of Nations, the international organisation of 54 mostly former British Empire states  that the Commonwealth Games is linked to.

The logo was developed by Marque Creative Ltd, who were appointed to the job in October 2009.

Initially 66 creative agencies from around the world expressed an interest in creating the brand identity, and a selection panel process reduced the number to a shortlist of six before unanimously selecting the winning company.

John Scott, the chief executive of Glasgow 2014, said: "Today is a big milestone for everyone involved in the planning for Glasgow 2014, as the unveiling of the new brand symbolises the start of a new and exciting journey towards the Games.

"The brand identity we used for the bid was excellent – it did its job, and it won support from all over Scotland and helped us to win the Games. 

"We now need to raise the revenue required to help stage the Games through selling the rights to the brand identity as sponsorship.

"I am confident that its distinct style, its inherent element of fun and flexibility for both on and off line environments will attract organisations wishing to be associated with the Commonwealth Games to become our sponsors."

Deputy First Minister, Nicola Sturgeon said: "I want Glasgow 2014 to be a great success and the Scottish Government has been working hard to ensure that the entire country will benefit from the opportunities that this world class event will bring to Scotland. 

"The new brand is much more than a marketing logo.

"Over the next four years everyone will become familiar with this distinctive brand and begin to identify with it. 

"We want this unique design to inspire all Scots to get behind the Games and see Glasgow 2014 as an event for the whole country.

"With all of Scotland on board we can make our Commonwealth Games a fantastic sporting event and a catalyst for positive change in our nation."

A new website to accompany the event has also been launched.

It is also the first time the Commonwealth Games Federation (CGF) has approved the use of a colour that is not used in their own branding.

Mike Hooper, the chief executive of the CGF, said: "The Commonwealth Games Federation worked very closely with Glasgow 2014 and design agency Marque in the development of the new brand.

"We are very pleased with the results, it’s original and refreshing with a great degree of flexibility, and we look forward to seeing the new brand being used to promote the Glasgow 2014 Commonwealth Games both within Scotland and throughout the Commonwealth."

A moving form of the logo will also be used in digital formats.

Scottish officials will be hoping that the new logo avoids the savage criticism that the London 2012 logo attracted when it was was launched three years ago.

Michael Cavanagh, the chairman of Commonwealth Games Scotland said: "The essence of the logo communicates everything that is intrinsic to sporting performance in terms of time, data and measurement.

"These are all criteria that prospective Team Scotland athletes will be driven by, as they strive towards achieving success at Glasgow 2014.

"We are delighted that the brand reflects the continued commitment to an athlete-centred and sport focused Games."

To see the new Glasgow 2014 website click here.