Oscar winners Daldry and Boyle to produce Olympic opening show

Olympics chiefs today unveiled an array of world-beating British creative talent to produce a spectacular opening ceremony for the 2012 Games.

The creative team includes Oscar-winning filmmakers Stephen Daldry and Danny Boyle and experts who have worked on the curtain-raiser for the Beijing Olympics, the Superbowl show, Rolling Stones' tours and Pink Floyd's The Wall.

They will work with a £40 million privately-funded budget and a full-time staff of 450 to put on all the shows. The two-year project will encompass four ceremonies — the opening and closing of the Olympics and Paralympics.

Boyle, whose film credits include Trainspotting and Slumdog Millionnaire, will have arguably the most high-profile task as artistic director of the opening ceremony, which will take up most of the budget.

The director, who has a home near the Games site, said: "It's a completely unique opportunity to contribute to what I'm sure are going to be a fantastic Games. I'm really excited to be involved."

The extravaganza on 27 July 2012 at the 80,000-seat Olympic stadium will involve a parade of 10,000 athletes from 205 nations, culminating in the lighting of the Olympic cauldron and is expected to be viewed by a global television audience of one billion.

Details of Boyle's concept will remain a secret but the show typically lasts up to four hours with Olympic protocol dictating two thirds of it. British institutions ranging from the Rolling Stones to the Red Arrows may feature and the odds shortened today on a role for Sir Elton John following the announcement of Daldry as executive producer. Sir Elton was the composer for the stage version of Daldry's film Billy Elliot.

Daldry said that he would not try to emulate the gigantism of the Beijing opening ceremony, which had an estimated budget of $100 million. He told the Standard: "We have probably seen the end of that level of extravagance. I think it reached its natural peak in Beijing. I wouldn't call [London's opening event] an austerity ceremony, but I don't think we should have to compete with Beijing."

The 2012 team lined up this morning at an 11th century mill in Bow, which will become a dedicated Olympic ceremonies workshop. Executive producer, design, is Mark Fisher who has worked with Pink Floyd and on every U2 and Rolling Stones show for the past 20 years.

Hamish Hamilton is executive producer, broadcast, and has directed concert DVDs for Madonna and Jennifer Lopez. Executive producer, production, is Catherine Ugwu whose credits include the opening ceremony of this year's Vancouver Winter Olympics and the spectacular show to open the Millennium Dome.