Somerset House will become ‘Casa Brasil’, the official ‘Olympic House’.

The move from the Brazilians to take over the much sought-after venue is the latest in a scramble for top quality event spaces during London 2012.

Brazil is hosting the 2016 Games in Rio, so was always likely to pursue a high-profile event space, much in the same way France – which is rumoured to be bidding for 2024 Olympics – has taken over Old Billingsgate.

"We’re now looking forward to working together on a cultural programme that captures and celebrates the country’s vibrant arts and cultural scene, and showcasing the best of Brazil in the heart of London," said Somerset House director Gwyn Miles.

Expect more NOCs (National Olympic Committees, which conduct the searches for venues) and venues to declare their partnerships over the next couple of months.

No details yet on what Brazil and Somerset House have in store, but expect a carnival atmosphere.

If you would like to comment register and let us know your thoughts