The Memorandum of Understanding (MoU) - signed by BOA chairman Sebastian Coe, Belo Horizonte Mayor Marcio Lacerda and Minas Gerais State Governor Antônio Anastasia - will see Team GB training, preparing and acclimatising at the city's Minas Tênis Clube, a multi-purpose sports centre, in the lead up to the Summer Games in three years' time.

Today's signing follows an initial agreement made in December last year.

"We believe we have found the best possible environment for our athletes to prepare for the Rio 2016 Olympic Games and all the partners have shown their commitment to understanding and meeting our needs," Coe said.

"This is a very exciting day for Team GB and an important moment as we build the bridge from London 2012 to Rio 2016.

"A great deal of work has already gone in to get us to this stage of our planning for the Games and we are looking forward to a close working relationship with all of our local partners and friends here in Belo Horizonte."

Sebastian Coe has signed an MoU with Antônio Anastasia and Marcio Lacerda that will see Team GB based in Belo Horizonte ahead of the Rio 2016 Olympics

The agreement also includes a cultural exchange programme "to help ensure a lasting legacy of international sporting events for the region".

Meanwhile, Belo Horizonte is a one-hour flight from Rio, São Paulo and Brasília and will host six matches during the 2014 FIFA World Cup, including the semi-final.

"We are honoured and delighted that Lord Coe and the BOA have chosen to base themselves in Belo Horizonte as they train and prepare for Rio 2016," Lacerda said.

"Our preparations for next year's FIFA World Cup are going extremely well and today's announcement shows that we are already planning our next steps for the benefit of the city and our people by welcoming the British Olympic Association to Belo Horizonte.

"This is a great moment for our city and we will ensure that every member of Team GB are welcomed with open arms and provided with the best facilities and support to help them prepare for the biggest moments of their sporting lives."

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