"The government, the London Mayor and councils are major stakeholders in hosting the games, " a spokeswoman said.
Indeed critics argue the huge cost of hosting the Games, has diverted money away from local sports facilities.
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Hosting the games also gives a boost to the medal tally, not least because of the support of local fans.
Britain has already experienced much of the direct uplift from hosting the games, with infrastructure spending on stadiums and new transport schemes, for example.
We are very proud to be hosting the Games in 2014 and delighted to see the excitement, from people of all ages, in the Commonwealth this weekend.
We'll look at the likelihood of winning and we'll look at the benefit that hosting the games will bring, not just to England, but the whole United Kingdom.
The DCMS emphasises the inspiration to youngsters to take up sport as one of the public benefits of hosting the Games, on top of the regeneration of deprived parts of London and a legacy of world-class facilities.
Sepp Blatter, the boss of world governing body Fifa, has said the plans will never go ahead as long as he is president, and several international football federations have said they are not interested in hosting the games.
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Montreal has only just finished off repaying the debt it stacked up from hosting the 1976 Games.
Other cities hosting the coldest games in league history include Kansas City, Mo.
This season the wild-cards had the odd occurrence of hosting the first two games against teams with the best record in their leagues.
Glasgow's George Square is to receive a revamp in time for the city's hosting of the 2014 Commonwealth Games.
Delhi's troubled hosting of the Commonwealth Games has been in the spotlight in the past few days.
But at most business schools, even those hosting competitions, the games are considered an extracurricular activity and students are not awarded credits for taking part.
The other oddity of this bowl season is the fact that the NFL network is hosting 4 NCAA bowl games this year, but only the Insight and the Senior Bowl will be in HD.
Also in southeastern France, Chamonix Mont Blanc had the honour of hosting the very first Winter Olympic Games in 1924.
Getting swept in the first round meant hosting only two playoff games, after averaging 9.4 home playoff games over the past five seasons.
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Rio de Janeiro's successful staging of the Pan-American Games in 2007 and their future hosting of the 2014 World Cup seemed to bolster its prospects, but the IOC recently noted that it would not be capable of providing the level of security and safety required for the Games.
Throughout the summer, Weymouth and the surrounding towns and villages, are hosting countless events to celebrate the homecoming of the Olympic Games.
We would then be hosting two consecutive Monday night games, with the Redskins coming to Green Bay a week later.
This is the city which nine months earlier hosted the Olympic Games without incident, and politicians say it provided the ideal training ground for hosting international sporting events.
Brazil is hosting the FIFA World Cup in 2014 and the Summer Olympic Games in 2016.
It was launched in Silicon Valley in 2002 and meant to be a social network around video games, but the sideline photo-hosting project turned out to be more promising.
The post-Games stadium will be capable of hosting major athletics events and Premier League football.
One aspect of the campaign focused in particular on young men, even heavily promoting the new exchange on TV during Red Sox games and hosting an annual "Health Connector Day" at Fenway Park.
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Hinckley United will play two games on the opening weekend, heading away to Workington before hosting Droylsden at home on Monday 10 August.
He is quick to add that these games cannot quite be compared to South Africa's hosting of the Cricket World Cup in 2003 because that "was a matter of national pride".
The bar has been set very high for Rio and other countries hosting future Olympic Games.
In April last year David Turpin, a member of Washington State University's track squad who was attending the school on a partial scholarship, was arrested and charged with a felony violation of Washington's gambling laws after an undercover agent witnessed him hosting games of Texas Hold 'Em in his apartment and taking 10% of the pots as his fee.
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