The money would be used to employ a 2012 co-ordinator and fund five sub groups on business, pre-Games training camps, sports development and legacy, tourism and culture.

 

The cabinet for finance, procurement and value for money recommends the Council agrees to spend £100,000 in 2006-2007 from the Policy Contingency Fund, made up of council-tax payers' money.

 

There would then be another £100,000 a year for the next two years as part of the Policies Priorities and Resources process - which is a portion of council-tax money which different cabinet members bid for.

 

Other partners would be expected to help with money.

 

Warwickshire County Council has committed to spending £60,000 a year with CV One and Coventry and Warwickshire Chamber of Commerce giving £15,000.

 

 

 

But while money has already been pledged for the first year, the figures for 2007-2008 and 2008-2009 have yet to be confirmed.

 

 

 

The proposal comes after a November workshop organised jointly by Coventry and Warwickshire Chamber of Commerce and West Midlands Business Council to help the region benefit from the games.

 

Among those enthusiastically pushing Coventry are Dave Long, a former marathon runner who represented Britain in the 1988 and 1992 Olympics.

 

Coventry’s proposals are centred around the Ricoh Arena, Coventry City’s recently opened football ground.

 

"The Ricoh Arena, for example could be used as a training camp or as a venue as there are between 12 and 16 sports that the Arena could accommodate," said Long.

 

The Arena is believed to be short-listed for football and hockey and Roger Dowthwaite,chairman of the Coventry and Warwickshire 2012 Opportunities Management Group said: "The 2012 Olympics as well as the Paralympic Games offer a wide range of fantastic opportunities in terms of attracting business and promoting the area and we are determined to make the most of it."

 

Other possible training venues include the Alan Higgs Centre and Coventry Sports Centre, the only Olympic-sized swimming pool in the Midlands.

 

 

 

"The Olympics is the biggest sporting event in the world and we have the transport links, tourism and business opportunities within our sub region to make this a success and it is important we compete with other regions across the UK and take advantage of these opportunities," said Dowthwaite.