London 2012 pitch narrowed to two marketing groups

Update: The battle for the London 2012 Olympics marketing assignment, which requires the winner to sponsor the games to the tune of nearly £10 million, is down to WPP Group and McCann Erickson.

It was earlier thought that Publicis Groupe was still in the running but this has been discounted. Chime Communications is the latest marketing group to drop out.

It is believed Chime , which include Vallance Carruthers Coleman Priest, put forward a model offering “value in kind” rather than the full tier three sponsor investment asked for by London 2012.

A source close to the pitch process said that it was now a “purely commercial argument” as to who is appointed. A final decision is expected next week.

The pitch process is being led by the London Organising Committee of the Olympic Games (Locog) head by commercial chief Chris Townsend.

Publicis Groupe, including Saatchi & Saatchi and ZenithOptimedia, did win the pan-European advertising account for Visa’s sponsorship of the London 2012 games.