The competition will be one of the few opportunities for a design-led facility in the Olympic site ('ODA to launch Velodrome comp', AJ 31.08.06), and the ODA will be looking for teams to express interest in designing the Velo Park for both Games and 'legacy' use.
The Velo Park is situated to the north of the Olympic Park, and will include a Velodrome to host the Olympic and Paralympic indoor track cycling events and a temporary purpose-built BMX circuit.
After the Games there will be a permanent 'cycling legacy' in the area, with the BMX circuit relocated and a road circuit and mountain bike course added.
ODA chief executive David Higgins said: 'The Velo Park is one of the 'Big Five' showpiece permanent venues planned for the Olympic Park. After the Games it will provide a lasting legacy of brand new cycling facilities for all ages and abilities.
'The design team competition will ensure that we continue to aim for the highest standards of design excellence across the project. We will be challenging designers to create a venue fit to stage the Games while also providing a landmark building for future generations to enjoy.'
The winner is expected to be announced in the summer and, according to the ODA, will take an 'active role' in the development of the venue, once a contractor is appointed.
Olympics Minister Tessa Jowell said: 'The highest design standards will mark out every venue we construct for the 2012 Olympic Games and Paralympic Games.
'The competition we are announcing today will ensure that design - and design champions - are embedded in the entire procurement and delivery process; from inception to completion.'
A shortlist will be announced in April when the selected teams will be asked to put forward concept designs.