All eyes are going to be on London this summer for the 2012 Olympic Games, but it's not just athletes that will have their moment in the sun this year. Organizers of the big event have just announced London Festival 2012, a 17-day arts and entertainment festival set to coincide with the games.

"The London 2012 Festival will be the largest cultural celebration in our lifetime," said Ruth Mackenzie, director of the Festival, at a news conference in London on Thursday.

"With new work from the best musicians, comics, artists, filmmakers and more, there will be arts events taking place in unusual places all over the U.K. that will showcase the best in international culture when the eyes of the world are on us this summer."

As a part of the ambitious festivities, Jay-Z and Rihanna will headline a special weekend music concert sponsored by BBC Radio 1. The festival will feature a whopping 12,000 events in all, with artists participating from all competing nations at the Olympics. Other big name stars who will be involved include Cate Blanchett, Jack White, Florence + The Machine and Gustavo Dudamel.

The London Festival 2012 will run from July 27 to August 12.

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(Photo: Larry Busacca/Getty Images)