Hundreds of firms facing relocation if London is chosen to host the 2012 Olympics have demanded £1.5 billion in additional compensation, according to press reports.
An article in the Evening Standard newspaper states the group has given Mayor Ken Livingstone's London Development Agency (LDA) seven days to produce the cash to help them move from the Stratford area of East London.
The firms say they will back rival city Paris in its bid for the 2012 Olympic Games if their demands are not met.
Livingstone has given the LDA £385 million to relocate 308 firms from the depressed East London district to make way for an 80,000-seat Olympic stadium and athlete's village.
It is believed about 100 of the firms facing relocation met officials from the LDA to discuss extra compensation. Olympic organisers London 2012 facilitated the meeting.
After 18 months of talks, only eight companies have agreed to the LDA's relocation conditions. Once the International Olympic Committee announces its decision, the Olympic organisers have the right to compulsorily purchase the land.
The IOC meets in Singapore on 6 July and will announce whether the 2012 Games will be awarded to Paris, New York, Madrid, Moscow or London.
