07/25/2012 05:45 EDT | Updated 09/24/2012 05:12 EDT

Sebastian Coe confirms he will run for IAAF president in 2015

LONDON - Sebastian Coe has made it official: He wants to become president of the IAAF.

Coe tells the Times of London newspaper he will run for the top job of the International Association of Athletics Federations in 2015 when Lamine Diack's term expires.

Coe, head of London's Olympic organizing committee, says: "I'm ready. I know how to do this."

Coe, a two-time Olympic gold medallist in the 1,500 metres, is already an IAAF vice-president.

He says "we have a great president in the post, so it would be when he stands down."

Coe's chief rival is expected to be Ukrainian pole vault great Sergei Bubka, who is also an IAAF vice-president.