Olympic chiefs are expected to announce VISA as the major sponsor for 'Team 2012' after finally reaching agreement with athletes' agents over image rights.

An announcement on a multi-million deal is expected to see the credit card giant named as the presenting partner for 'Team 2012', the 1,400 British Olympic and Paralympic athletes, in the run-up to the London Games.

The money will go towards filling a £50million shortfall after Government efforts failed to any attract private-sector cash to supplement Exchequer funding.

Team 2012 is a joint project involving the British Olympic Association, UK Sport and the organising committee of the London Olympics.

There was resistance initially from some top athletes' agents, including those representing Sir Chris Hoy, Rebecca Adlington and Christine Ohuruogu, who were concerned about whether it would affect image rights.

UK Sport have reached an agreement after promising that no fewer than four athletes - from a minimum of three sports - will be used in any images to promote Team 2012 or their sponsor, with no undue prominence given to any athlete.