The British Olympic Association (BOA) and the London 2012 organising committee have agreed to fresh talks aimed at settling their bitter financial row.
The BOA has asked the Court of Arbitration for Sport (Cas) to indefinitely suspend its request to rule on the division of any surplus from 2012.
The BBC has learned that the BOA has also requested a meeting with London Organising Committee of the Olympic Games (Locog).
Despite claims from Locog chair Lord Coe that he wouldn’t back down, Locog have agreed to the talks.
A spokeswoman for Locog confirmed to the BBC: “We have always said our door is open if the BOA wants to talk.
“We can confirm the BOA has asked us to meet to discuss an offer it would like to put on the table.”
A spokesman for the BOA said: “We have requested a meeting with Locog, which they have agreed to. The purpose of that meeting is to continue working towards a resolution.”
Although the BOA has not withdrawn its case with Cas, it has not set a time limit on the talks.
The surprise move comes after both sides appeared to become increasingly entrenched in a row that has overshadowed London’s otherwise successful preparations for next summer’s Games.
Only last week, the government refused to mediate in the dispute but both sides now want to see if a deal can be reached to draw a line under the affair.
In March, the International Olympic Committee ruled in favour of Locog, rejecting the BOA’s argument that it should receive its share of any cash surplus generated by the London 2012 Games before the Paralympics.
The BOA, which has financial problems, is still working to raise money to support Team GB during the 2012 Games.
It opted to take its case to Cas, which is the last avenue of appeal in sporting disputes, although the IOC has claimed it should have the final say in Olympic matters. —BBC Sport