It follows a controversial Channel 4 Dispatches programme about the
money machine behind the 2012 Games.

Livingstone told a City Hall press conference: "Like so many other
people with a sporting background after they have had their period of time  when they are achieving their best in the sporting world, they go into other things.

"Those who have been very successful and won gold medals the main thing they have go to sell is their reputations in terms of endorsements and so on.

"I have not noticed any great difference in the way that Seb Coe was working before or the amount of work he was doing.

"I have not the slightest doubt that if I was retired prematurely next May by the voters (at the London Mayoral election)  I would go back on the after dinner circuit and I'd no doubt be paid more than I was before because I have been Mayor and we won the Olympics and there has been the
congestion charge.

"You really cannot separate these things out.

"On balance London benefitted massively from Seb Coe committing himself and giving his time helping us win that bid.

"I think everyone who saw the presentation (in Singapore when London won the Games)  recognise it was decisive in shifting a handful of votes that gaveus the Olympics.

"It wasn't just his presence and reputation but that was the strategy that he devised - the particular appeal to reach youth. It was something he mentioned when he came on board replacing Barbara Cassani the previous year."