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The London 2012 Olympics officially open tonight (27 July) seven years after the city was awarded the games.

The Olympic flame will be lit inside the stadium to mark the start of 16 days of sport.

One billion people around the world are expected to watch the opening ceremony.

Lord Coe is chairman of the London 2012 Olympic and Paralympic Games.

He was instrumental in bringing the games to London as head of the bid team in Singapore in 2005.

He's a double gold medal winner on the track too, having triumphed in the 1,500 metres at both the 1980 and 1984 games.

"I've never thought of equalling, surpassing or frankly even comparing ourselves with 2008 hosts Beijing," he said.

"We're a very different country and we do things in a very different way.

"What you'll see tonight is uniquely British. We've called it the 'Isles of Wonder'; we are four extraordinary nations that come together in a unique family.

"We want to tell a little bit about that story and how we all started in what we call this 'green and pleasant land'.

"And we've got some quirky stuff and some humour, plus there will be a few surprises."

The opening ceremony is costing £27m to stage and has a cast of 15,000 volunteers.

Twenty-three thousand costumes will be worn and 500 speakers will make up a 1 million watt sound system.

Lord Coe says the Games are about more than the opening ceremony though.

"A sporting legacy isn't going to happen just because I want it to happen," he said.

"The encouraging thing is the numbers show since Singapore, that moment seven years ago when we won the right to host this extraordinary party, about one and a half million more people are actively involved in sport.

"But the big challenge is what happens over the next five years."

At the Beijing Olympics four year ago the Great Britain team finished fourth in the medal table.

Lord Coe says he is more worried about "special moments" than success on the track.

He said: "I'm confident that team GB is better prepared for an Olympics games than ever before.

"I'm pleased the British Olympic Association (BOA) have pinned their hopes on a fourth place in the table.

"I like ambitious targets but for me it's about special moments.

"No-one remembers where we finished in the table in Athens in 2004 but they will remember moments like Kelly Holmes winning double gold on the track or Chris Hoy winning four years ago."

The opening ceremony begins at 9pm and is expected to last until midnight. There is full coverage on ´óÏó´«Ã½ One.