Culture Secretary Lisa Nandy announced the government has commissioned UK Sport to carry out a strategic assessment to evaluate whether the UK could host the Games in the 2040s.

The study will consider key factors including estimated costs, socioeconomic benefits and the likelihood of a successful bid.

Ms Nandy said: “London 2012 showed what the Olympics can do for our country.

“It inspired a generation through sport, attracted huge investment and showed the best of Britain to the world.

“But while the North of England has driven so much sporting excellence, no matter the talent we produce, the sporting moments we create and the world-class events we attract – for too long we have been told the Olympics is simply too big and too important to be hosted in the North.

“Not any more.

“It’s time the Olympics came North and we showed what we can offer to the world.

“I couldn’t be more pleased to announce that we’re starting the firing gun on a long overdue vote of confidence in the North.”

The government has described major sporting events and sporting facilities as playing a key role in driving economic growth, regeneration, improving pride in place, and bolstering the UK’s global appeal.

Chancellor of the Exchequer Rachel Reeves said: “Britain’s sporting prowess is recognised and respected around the world.

“It’s something we are determined to capitalise on to breathe life into our communities and build a stronger and more secure economy.

“That’s why we’re throwing our full support behind bringing the Games back home which will boost our Northern Growth Corridor.”

Alongside the Olympic study, a package of measures was announced to harness sport for local regeneration.

This includes a Stadium Regeneration Accelerator, which will support cities and towns with priority sports infrastructure projects that deliver wider benefits.

(Image: Newsquest)

While the government will not directly fund stadium upgrades, it will work with clubs and leagues to unlock opportunities for housing, jobs, transport and community sport facilities.

Planned projects include proposals in Greater Manchester, Birmingham, Newcastle, Leeds, Liverpool, and London.

A new Sporting Events Bill will also make it easier to bid for, secure, and deliver major sporting events—making unauthorised ticket resale for designated events a criminal offence.

The government is also backing bids to host the 2029 World Athletics and Para-Athletics Championships and the 2035 FIFA Women’s World Cup.

More than £500 million has been invested in major sporting events, with at least £400 million being invested in community facilities across the country.