The announcement, however, has sparked outrage from the Scottish and Welsh FAs.
Speaking earlier this afternoon Mr Peat said: “I am absolutely astounded that they have put out this statement. I know nothing about any such agreement and we want nothing to do with this tournament.”
Welsh FA president Phil Pritchard was equally furious, saying the FA had no right to speak on behalf of the other associations on Olympic matters.
“We are not part of any agreement. The FA have no authority to speak on our behalf – they do not represent Wales whatsoever and that’s a fact. We have not discussed this at any time recently,” Pritchard said.
Ongoing rows about the nationality of the players and the strength of the individual national football associations had led to fears that Britain would not be able to field a team in the first home Olympics in 64 years.
BOA chief executive and Team GB chef de mission Andy Hunt said: “Seeing Team GB take to the pitch in 2012 will be one of the defining moments of the London Olympic Games.
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