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London ticket sales hit £527m

The organisers of next year's London Olympics have so far raised £527m through ticket sales, Paul Deighton, Locog's chief executive, told MPs yesterday. Locog are charged with funding their £2bn budget for running the Games privately through sponsorship, ticket sales and merchandising.

From next month, existing ticketholders will be able to resell any tickets they do not want through an official website: www.tickets.london2012.com.