The London Organising Committee of the Olympic Games and Paralympic Games (LOCOG) is the private sector company responsible for staging and hosting the 2012 Games. It has a £2bn budget, with almost all of it to be raised from the private sector. This commercial revenue will come from several sources. LOCOG receives income from the International Olympic Committee (IOC) as well as generating its own income from sales of tickets, merchandise and, most importantly, a domestic sponsorship programme.