In a nail biting climax to the vote in Singapore, as to who would host the 2012 Olympic Games, London stormed in with 54 votes against runners up Paris.
One in the eye for a rather cocky Chirac, who had belittled English cuisine and London's chances earlier this week.
London, bidding for the first time to stage sport's biggest event, started as outsiders but they won through in the end.
London has staged the Games in 1908 and 1948. It becomes the first city to hold the Summer Olympics three times.
Lord Coe said:
"It's just the most fantastic opportunity to do everything we ever dreamed of in British sport. This was the most splendid team performance..We are taking home the biggest prize in sport."
People hugged each other in Trafalgar Square, as they watched the announcement in Singapore on a huge screen.
Champagne was sprayed around under Nelson's Column and at Waterloo station, and thousands danced in the streets after the announcement was made.
A great waste of money, in my view. However, there is something innately satisfying about beating Chirac.
Let us hope the East End of London really does benefit form these Games.
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