By Tom Degun at Queen Victoria Memorial in London

Sebastian Coe_10-09-12September 10 - London 2012 chairman Sebastian Coe has claimed the new British Olympic Association (BOA) chairman will be vital in creating a lasting legacy from the Olympic and Paralympic Games but has perhaps tellingly not ruled out taking up the position himself.

Coe (pictured top) last night received a standing ovation at the Paralympic Closing Ceremony, which marked the official close of a London 2012 Games that have been widely hailed as the best ever across the world.

The London 2012 chairman himself has received huge credit for the major role he played in first securing and then delivering the event, leaving many to tip him as the next BOA chairman after incumbent Colin Moynihan revealed last month he would step down from the role in November.

"The British Olympic Association is an extraordinary organisation," Coe told insidethegames.

"It has sat, for many years, at the centre of British sport and it is an organisation that has helped define the careers and the lives afterwards of many, many people in this country.

"It is an organisation that I personally owe an enormous debt of gratitude to.

"So they [the new BOA chairman] will be a vitally important person and it is absolutely vital that they make the right decisions going forward for the good of sport in Britain in the future."

Duchess of_Cambridge_Richard_Leman_Katherine_Grainger_and_Dame_Kelly_Holmes_10-09-12Richard Leman (left), sits alongside Catherine, Duchess of Cambridge (centre) and other VIPs, including rower Katherine Grainger (right) and Dame Kelly Holmes during the London 2012 women's hockey bronze medal match between New Zealand and Great Britain

David Hemery, the BOA vice-chairman, and Richard Leman, the President of GB Hockey and a BOA Board member, are currently the main contenders to replace Moynihan in November but it is thought that all candidates could step aside if Coe decides to stand for it.

Many senior figures, including those in Government, are attempting to persuade Coe to stand after the London 2012 success but Coe himself refused to commit either way.

"I've been asked [what I will do after the Games] for the last seven years, even when I was bidding," he said

"My answer has always been, during the bid, that I will decide after the bid.

"I then joined the Organising Committee and my overriding, overarching focus has been to help deliver the Olympic and Paralympic Games.

"That has never changed.

"So it [what I will do next] is something I will have to sit down and think about."

Sebastian Coe_at_London_2012_final_press_conference_August_13_2012Sebastian Coe will lead the post-London 2012 GREAT Britain campaign

Regarding his post-Games commitments, Coe has already agreed to become the Olympics legacy ambassador for Prime Minister David Cameron and lead the GREAT Britain campaign, promoting the country as a great place to visit, study, work, invest and conduct business.

He is also set to have a major role in helping London prepare for the 2017 Athletics World Championships, not least in his position as International Association of Athletics Federation (IAAF) vice-president.

His IAAF role is likely to take increasing prominence in the next few years as he is one of the leading contenders to replace current President Lamine Diack of Senegal when he decides to step down.

Becoming BOA chairman or IAAF President would also dramatically increase the chances of Coe becoming an International Olympic Committee (IOC) member, which both Coe and the IOC want.

Britain currently has four IOC members with vice-president Sir Craig Reedie, Athletes' Commission member Adam Pengilly, International Paralympic Committee (IPC) President Sir Philip Craven and the Princess Royal all currently serving.

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