The telecoms giant has contacted agencies inviting them to pitch for the business through the AAR.
Media agencies have been offered the opportunity to pitch for the sponsorship activation brief in addition to comms planning, with the option of partnering with a sports sponsorship or PR company. Pitches are expected to take place in mid-April.
BT's ad agency of record is Abbott Mead Vickers BBDO and its media planning and buying account is held by the WPP-owned Maxus.
BT is a tier one sponsor of the London Olympics, along with the likes of BP, Lloyds TSB and British Airways.
Tier one sponsors donate around £40m and are expected to get publicity worth up to £80m from their connection with the Games and the use of the 2012 logo on ads with the Olympic rings.
BT shifted its £75m media out of Publicis' VivaKi and into Maxus in February following lengthy negotiations with WPP's Group M. The move came less than two years into a three-year contract that Publicis signed with BT in 2008.
BT's 'BT family' campaign, by AMV, promotes the BT Vision and Broadband products and stars the My Family actor Kris Marshall.