'The London Organizing Committee of the Olympic Games (Locog) has bought the Oyster Cards worth £258 apiece and at least half of the holders of the cards can indulge on free transport from three weeks before the opening ceremony on July 27 to the end of the Paralympics games on September 9, The Telegraph reported.

Locog will hand out the cards to all Games officials, sponsors, Olympic volunteers and athletes while a number of journalists will also enjoy the privilege.

The massive spending on the cards comes as the Games VIPs will enjoy other free transport options including a fleet of 4,000 chauffeur-driven BMWs and a network of 1,500 coaches.'

Read more: Free Olympic Public Transport Costs £10m