Olympics project on track - Coe

Lord Coe shook off criticism of the London Olympics project on Wednesday, stating that all targets for 2007 have been hit.

At an end-of-year update on progress, leaders of the Games Organising Committee and Delivery Authority said London 2012 was on track but they were not prepared to take their foot off the pedal in the coming years.

"No city has been this far advanced in fundraising at this stage of organising an Olympic Games," Coe said.

Leaders also laid out their hopes for 2008, a year that will see the official launch of London's Olympiad with a handing over of Olympic and Paralympic flags during a ceremony at the Beijing Games.

Speaking at the briefing in east London Lord Coe, the Organising Committee's chairman, said: "We are not only on track, we are exactly where we wanted to be.

"This year has been important in shaping the DNA, creativity and feel of the Games," he added.

He also defended the more controversial parts of the Olympic project thus far.

In answer to a question as to whether criticism of the logo, design of the stadium and budget represented a mini annus horribilis, Lord Coe said he did not recognise it as such.

"I'm very happy to defend and be very positive about all three," the former Olympic athlete said.

Lord Coe added that popular support had constantly been in the region of 75-80% and that he hoped it would go even higher as the Games got nearer.