The Government and Olympic Delivery Authority (ODA) revealed last October that they had shelved plans for the £7 million ($11 million) design after they were told to find £20 million ($32 million) of savings in the Comprehensive Spending Review.

The decision to scrap plans for a wrap was criticised by a number of high-profile individuals including one of the senior architects behind the stadium, Rod Sheard, who said the limited cost benefits would be outweighed by the diminishing of the Stadium's image and wind protection.

But the wrap now seems set to be restored tafter London 2012 announced they are now officially seeking expressions of interest from the private sector to supply the design and looking to explore possible sponsorship opportunities in return for sector exclusive marketing rights as part of the procurement process.

Paul Deighton, the chief executive of London 2012, said: "We have had significant interest in supplying the stadium wrap from the private sector, so now is the time to start a formal tender process.

"There are some exciting ideas around, and we are running a process that is fair to those organisations that have expressed an interest."

The 80,000 seat Olympic Stadium will be one of the most iconic images of the London 2012 Olympic Games and Paralympic Games and will be seen by an estimated global audience of four billion people as it hosts both the Opening and Closing Ceremonies as well as the athletics competition.

As London 2012's commercial sponsorship programme draws to a close, the wrap is one of the last high-profile opportunities for a corporate sponsor to gain an association with the Games.

The International Olympic Committee (IOC) guidelines do not allow branding in venues so any company that sponsors the wrap will not be able to display their logo during the games.

On his most recent visit to the capital Denis Oswald, the chairman of the London 2012 IOC Coordination Commission, said: "I think it is very clear that all the venues must be clearn, this means no advertising at all - inside or outside."

During the same visit, Oswald stated that an Olympic Stadium without the wrap would still look stunning although he indicated that he would prefer it to be in place.

"What is important for us we don't diminish the quality of the Games," he said.

"The wrap around the stadium is a nice thing to have but it does not affect the athletes or their performances and therefore it is something that we can accept [it not being there].

"Of course, it would be nice to have it but I'm sure there will be other solutions to make the Stadium look very nice."

The opportunity to tender for the stadium wrap has now been published on the London 2012 business opportunities website, CompeteFor, with a deadline for expressions of interest by February 18, 2011.

Contact the writer of this story at [email protected]

Related Stories
November 2010: Firms come forward to sponsor £7 million Olympic Stadium wrap
November 2010: Radio station wants Facebook users to stump up for London 2012 stadium wrap
November 2010: Final cost of London 2012 revised down £29 million as plans for Olympic Stadium wrap shelved