The Delivery Partner will support the ODA in project managing the delivery programme for the venues and infrastructure for the 2012 Games. "The winning team pairs the best of British industry with one of the world’s largest engineering firms," said David Higgins, the chief executive of the ODA (pictured here with Sebastian Coe and Jack Lemley and members of the successful consortium).

Under EU procurement law, there is now a 10 day "standstill", or Alcatel period before the successful bidder is confirmed. Subject to this period, the ODA anticipates signing a contract in September, with the first tranche of the team co-locating at the ODA offices shortly after that.

"Their job is to ensure that the construction project runs as smoothly as possible over the coming years, recognising its unique scale and the challenge of multiple contractors working on one large site," chair of the ODA Jack Lemley said at a hastily-convened press conference at the Canary Wharf headquarters of London 2012.

"The contract we will shortly be signing with CLM will be very heavily performance focussed. Profit will be earned if targets are met.

"There is a very clear understanding on both sides about that. This is a results business, their reward structure is linked to delivery. We believe we have appointed the best team for the job," Lemley added.

The companies forming CLM have worked on five Olympics to date, including 2004 in Athens and this year's Winter Games in Turin. They are also involved with the 2008 and 2010 Olympics in Beijing and Vancouver.

"The three companies in the consortia have, among them, worked on five previous Olympic and Paralympic Summer and Winter Games and are working on two forthcoming ones, and played key roles on successful UK construction projects including the delivery of the huge construction programme for Terminal 5 at Heathrow," said Higgins.

Four bids were shortlisted for the role of delivery partner and after evaluation CLM, which has a combined annual turnover of £5 billion, was the unanimous choice.

"We undertook a rigorous evaluation process of all four of the high quality shortlisted bids across a range of technical and commercial criteria, and we recognise the effort all the teams put in to this process. CLM came out best," said Higgins.

"This is another big and positive milestone in the 2012 programme, giving us the resources to move forward to the next stage of delivery of the facilities for the Games.

"The Delivery Partner will be helping us to manage the costs of the building programme and we will be closely managing the Delivery Partner’s costs, with profit earned only if they hit performance targets we will set and agree with them."

Ron Brooks, the chief exeuctive of CLM said: "CLM is thrilled to have been selected by the ODA to help them deliver a landmark Olympic Games and Paralympic Games in 2012.

"Our team brings together, the programme management and environmental track record of CH2M HILL the construction expertise of Laing O’Rourke and the project management experience of Mace into one united company – CLM.

"CLM’s single focus is to help the ODA deliver world class facilities with a legacy to match."

Tessa Jowell, the Olympics Minister, said: "This is another big step forward on the road to 2012. The quality of the companies that sought this role is a vote of confidence in the London Games, with high-profile UKand international businesses wanting to play their part in delivering this extraordinary project. 

"I believe that CLM will be a strong addition to the 2012 team - working with the ODA to ensure that the design of the Olympic Park and the construction of venues and infrastructure goes smoothly and is completed in good time. Together they will deliver impressive facilities and a stunning legacy for future generations."

Ken Livingstone, Mayor of London, said: "We always said we would get the best people in the world to work on this project. With CLM we have a team with a fantastic track record on key projects in Londonand all over the world. They have a breadth of experience that will be key to delivering the best Games and legacy."

Sebastian Coe, chairman of the London Organising Committee for the Olympic Games and Paralympic Games, said: "This is an important milestone for us. This was about getting the best team in place, and we view CLM as part of our team as we focus on delivering the best ever Olympic Games and Paralympic Games, and on leaving a valuable sporting, cultural and environmental legacy.

"Exactly six years from today, the first London 2012 Paralympic Event will begin. Every venue will be fully accessible and inclusive, and this is another important part of both the construction project and the legacy we leave for future generations."