Organizers of the next two Summer Olympics will share their experience and expertise in drumming up business for the games. British Prime Minister Gordon Brown and Brazilian President Luiz Inacio Lula da Silva signed an agreement Wednesday for the exchange of business advice between organizers of the 2012 London Olympics and 2016 Rio de Janeiro Games. Up to $50 billion of infrastructure investment is at stake in Brazil as it prepares to host the 2014 World Cup and 2016 Olympics. "When it comes to competing for (contracts in) Brazil, U.K. companies with expertise in delivering sporting events will have a major advantage," British Olympics Minister Tessa Jowell said at a business summit. "Being a company that will work on 2012 will give you a unique currency to the global marketplace." London Olympic officials said about 1.7 billion pounds ($2.8 billion) of business is still on offer for the 2012 Games. That includes 1 billion pounds ($1.6 billion) worth of contracts to be awarded by the Olympic Delivery Authority, which is in charge of building the venues and infrastructure, and 700 million pounds ($1.1 billion) by local organizing committee LOCOG. "With less than three years to go, we're starting the procurement process for everything that we need to stage a memorable Games," LOCOG chairman Sebastian Coe said. "The scope of this project is potentially massive - from sporting equipment to catering services and beyond." Coe said the Olympics could herald a "golden decade of sport-related business" for Britain. Meanwhile, officials announced that London will host a major international sports conference in 2011 as part of the buildup to the Olympics. The SportAccord convention will be held April 3-8 and be attended by 1,500 delegates. It will be held in conjunction with executive board meetings of the International Olympic Committee. London Mayor Boris Johnson said the event could pump more than 3 billion pounds ($4.9 billion) into the local economy.
