LONDON - Organisers for the London 2012 Olympics are weeks away from meeting their 700 million pounds ($1.1 billion) sponsorship target, ending a five-year funding and procurement programme, the Financial Times reported on Monday.

Paul Deighton, chief executive of the London Organising Committee for the Olympic Games, told the newspaper the body was "single digit millions" away from its goal.

He added that after finalising a few remaining sponsorship agreements it would "close down" the programme.