OXFORD: A study by Oxford University has shown that the 2012 London Olympics will be most expensive games yet held.

Researchers at the Said Business School, in Frideswide Square, say they expect the games will cost £8.4bn in real terms, twice the initial projected budget.

Research team member Allison Stewart said: “The figures that are in the public domain are unlikely to be the full final cost of the games, but represent “politically acceptable” costs.

“The real costs are often not reported in a single place, unless significant auditing and investigation are conducted after the games.”