Craig Reedie, chairman of the British Olympic committee told the BBC last year that "Football is the number one sport in the country. Can you imagine running an Olympic Games in Britain without a British football team?"
The usual argument used against the idea is that it would damage the strength of England, Scotland, Wales and Northern Ireland as seperate associations; but FIFA president Sepp Blatter has in the past been supportive of a special allowance in the eventuality of London being successful, without it impacting on the normal arrangement.
There are some doubts from non-English quarters, particularly the Scots, but these have led wags to suggest that the Scottish wouldn't have to worry about whether to participate or not, even if there was a British team, due to the current scarcity of Caledonian footballing talent.
But aside from these issues, a team comprising of representatives of all four home nations would be an exciting prospect indeed.