SYDNEY - ORGANISERS of the London 2012 Games will spend 'whatever it takes' on security for the global event, British Olympic Association chairman Lord Colin Moynihan said on Monday.

Meeting here with Australian Olympic officials, Lord Moynihan said the security budget would be far greater that initial estimates, but 'that is a price you absolutely have to pay' to ensure a safe and successful Games.

'The safety of the athletes and everybody is paramount. Whatever it takes must be spent in order to secure their safety', Lord Moynihan told reporters.

'That is critical', he said.

British media reports say the security budget is likely to blow out to 1.5 billion pounds (S$3.1 billion), three times the original estimate.

The initial total budget for 2012 has already leaped from 3.4 billion pounds to 9.3 billion pounds.

'In the bid, the amount of money doesn't reflect what we now realise is necessary to make for a secure Games', he said.

Lord Moynihan said the budget had not yet been finalised, with the issue to be discussed at this week's board meeting of organisers in London.

'If the security budget is greater than originally conceived, which it is, that is a price you absolutely have to pay to make sure the Games are a success and the athletes are secure, and everybody who comes to the country as our guest ... is fully secure.'

But he said any extra funds poured into security would not jeopardise other areas of the Games.

'That can't be traded off against other aspects of the Games.' Lord Moynihan said the global financial crisis was having an impact on some sponsorship arrangements for London 2012.

'It makes it tougher, no question, (but) I believe we will achieve our targets', he said.

'Some are under greater strain than they were a matter of months ago so we need to respond to that.

'Ultimately, we've given commitments to the IOC and we need to see those commitments through.'

Lord Moynihan said he expected Britain in 2012 would almost double the 305 athletes it sent to the Beijing Olympics, where it finished fourth on the medal standings with 47 medals, including 19 gold.

He announced that Britain would send more than 200 athletes and officials to take part in the Australian Youth Olympic Festival here next January as part of the buildup to the London Games. -- AFP