The logo for the London Olympics cost £400,000, took one year to make and was absolutely panned by the media, public and design community. Even Iran criticised the logo (and you know when President Amadihnajeed has a crack at your logo that you’ve got a problem).
Olympics logos are the perfect designs to have crowdsourced. The Olympics is a universally loved and respected brand and designers around the would love to work on it. Why not open it up every four years to a global design contest? There are many reasons London should have crowdsourced its logo.