World football’s governing body says the sum relates mainly to costs for preliminary competitions, for accommodation, travel and transport for teams and staff, as well as daily allowances and refereeing matters.

The figure is less than the almost $22 million (£14 million) of expenses incurred by FIFA for the football tournaments at the Beijing Olympics in 2008.

However, this included a $6 million (£3.8 million) contribution by FIFA to the confederations for the benefit of participating teams.

Like other international sports federations, FIFA should get a revenue share from the International Olympic Committee for its involvement in organising the competition.

For Beijing, this contribution totalled $14.8 million (£9.4 million).

Matches in the 2012 men’s and women’s Olympic football competitions will be played at six well-known arenas around the UK: Wembley Stadium, Old Trafford, Millennium Stadium, St James’ Park, Hampden Park and City of Coventry Stadium.

The men’s event was won in Beijing by Argentina for their second consecutive gold medal.

The women’s competition was won by the United States, also for the second straight time.

The men’s competition is an under-23 event, with three overage players allowed.

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