The Olympic Torch could be carried through the streets of Blackbird Leys, Rose Hill and Barton on route to London after Oxford positioned itself at the forefront of preparations for 2012 Games.

Oxford was first off the starting blocks yesterday when business leaders, council representatives and Sport England held a brainstorming session on how to tap into the lucrative Olympic market.

It is understood that no other city outside London has held such high-level talks ahead of the Games. One of the priorities is to maximise participation in deprived areas.

A decision on the route of the Olympic Torch, the symbol of the Games commemorating the theft of fire from the Greek god Zeus by Prometheus, will be made after Beijing 2008. By tradition, the flame is delivered to officials of the host city after a worldwide relay.

Michael Lawrence, the city council's director for housing, health and communities, said: "It would be great if someone could run down Cuddesdon Way with the torch.

"We should be aiming to shoot as high as we can, we want to be involved and it's an inspirational message for the whole team."

The city council intends to build three new sports academies across Oxford to attract countries competing at the Olympics and help nurture local sporting talent.

That programme, which is dependent on private funding, is scheduled to start next year. Sport England, which has already given the city council £1.7m towards the cost of Barton swimming pool, will collect information between now and January on potential host cities' facilities, and how well equipped they are to cope with a large influx of Olympic visitors. It is due to make a decision in January 2008.

City council leader John Goddard said: "Everyone has heard of Oxford and, geographically, we are very well placed."

Oxford East MP Andrew Smith added: "It's not hard to see a future in which Olympians train for weightlifting at the Morris Motors Club, acclimatise at the Iffley Road running track, kayak by Donnington Bridge or practise equestrianism at Blenheim Palace."