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London 2012 chief Sebastian Coe is expected to be elected as the new chairman of the British Olympic Association (BOA) today.

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Lord Coe, who was chairman of the London Organising Committee of the Olympic and Paralympic Committee, is standing unopposed in the election and needs only to secure ‘yes’ votes from 50 per cent of up to 43 representatives due to attend the BOA national meeting in order to be elected as successor to Colin Moynihan.

No one is standing against the two-time 1,500m Olympic champion after British Hockey chief Richard Leman withdrew from the contest last month.

As outgoing chairman, Lord Moynihan, who has been in the post since 2005, can put forward another candidate if he chooses but there is no indication that he intends to do so.

Albert Woods, the president of the British and European canoe associations and vice-chairman of the BOA, said the organisation was fortunate that Coe was willing to take the job on.

Woods told the Press Association: “He brings a great deal to the party because of his connections with Olympic sport and the tremendous job he has done in LOCOG.

“I think the BOA are very lucky to have him with his pedigree and we are very fortunate he has put himself forward.”

Coe’s first big task after his expected election will be to try and put the BOA on a more stable financial footing following the heavy spending in the run-up to London 2012 that has left the organisation with a substantial deficit, perhaps even up to £2million.

UK Athletics chief executive Niels de Vos said Coe’s international stature - he is also vice-president of the International Association of Athletics Federations (IAAF) - and his connections with potential sponsors would be vital for the BOA’s future.

De Vos said: “If you are looking for someone to steady the ship, give us the right status internationally I don’t think there is a better guy and I think most of my colleagues on the national Olympic committee would agree.”

The BOA have already embarked on a process to slim down the number of senior staff in order to cut costs, and elite performance director Sir Clive Woodward has announced he is leaving.

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