The Badminton World Federation (BWF) and the International Gymnastics Federation (FIG) have rubber-stamped the decision to move them from a temporary arena at Greenwich to Wembley Arena, which is adjacent to Wembley Stadium, which will be the location and semi-finals and finals of the football tournament during London 2012.

Sebastian Coe, the chairman of London 2012, said: "We are delighted to have reached this agreement with the BWF and FIG and I would like to thank them for their full cooperation and support.

"We will now work through all the detailed arrangements with them and Wembley Arena to put on first class events.

"This is a big boost to North London which will be a hub for the London 2012 Olympics with the football finals happening at Wembley Stadium."
 
Hugh Robertson, the new Sports and Olympics Minister, said: "I welcome the BWF’s and FIG’s decisions.

"It is sensible during these difficult economic times to make use of an existing and well established facility.

"Wembley Arena will be an excellent venue for fans and participants of both sports and I hope they will inspire many others to take up badminton and rhythmic gymnastics."

London Mayor Boris Johnson, who had been one of the biggest supporters of the proposed move to Wembley, hailed the economic benefits of the decision, which it is estimated will save £40 million ($59 million).

He said: "I am delighted that by using one of London's existing world-class venues, we have saved  millions of pounds in the 2012 budget.

"LOCOG and the international federations for badminton and gymnastics are to be congratulated for finding a way to use the fantastic facilities at Wembley Arena.

"With the ODA (Olympic Delivery Authority) simultaneously doing a great job of bringing in the new venues on time and on budget, we are in good shape to host a world-beating Games without spending beyond our means."

Denis Oswald (pictured), the chairman of the International Olympic Committee Coordination Commission who had also backed the plan, said: "This is an important milestone in London 2012's planning for the Games. 

"With the venue for badminton and rhythmic gymnastics confirmed, LOCOG will be able to advance full steam ahead with its planning."

The World Badminton Championships, due to be held at Wembley Arena next year, will now assume even more importance.

Dr Kang Young Joong, the President of the BWF, said: "The athletes’ interest has been the central factor in our discussions with LOCOG and we are pleased that the plans put in place will live up to our expectations."

Badminton has a rich heritage at Wembley Arena and hosted the All England Championships between 1957 and 1993 before it moved to the National Indoor Arena at Birmingham.

Joong said: "Wembley Arena has a long history of hosting badminton events and we look forward to seeing great badminton being played there again - both during the London 2012 Olympic Games and at the 2011 London BWF World Championships."

Rhythmic gymnastics, which had approved the move to Wembley earlier this month, were also happy that they know knew where they would be based in 2012.
 
Bruno Grandi, the President of FIG, said: "I am happy that a good solution could be found in the interest of our athletes and wish to thank LOCOG for their comprehension."

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