Olympics chief Coe backs budget hike

London 2012 Olympics supremo Sebastian Coe has defended a controversial budget hike for the Games' opening and closing ceremonies, saying it will make for the "largest piece of television ever".

The British government last week agreed to more than double the budget for the ceremonies to 81 million pounds ($127 million).

"The government saw what we have created in the main ceremonies and wanted to invest more in this unique promotion of Britain to four billion people around the world," said Coe.