Sir Roger Bannister, who ran the first sub-four minute mile at Iffley Road running track in 1954 said the city could “put itself on the sporting map” by embracing the Olympics.

Sir Roger has attended eight games since the London Games of 1948, and is being consulted by Oxford University about its role in the lead-up to 2012.

Sir Roger, 80, who lives in North Oxford, said last night: “Being involved in the Olympics would undoubtedly give the city a large boost.

“The facilities we have would not be sufficient for one of the larger states, like America or Germany, but would be perfect for a smaller nation.

“London 2012 will leave a legacy for counties across Britain and Oxford can be a part of that. We have a lot to offer.”

Sir Roger added Oxford would appeal to teams from across the globe.

He said: “Many athletes will not want to stay in the Olympic village, and I’m sure they would welcome the chance to stay in a university city with excellent sporting facilities.

“The £35m project to redevelop Iffley Road will play an integral part in the city’s role in the games.”