To be honest I'm rather offended that the UK bid is being written off while it's still 2014. I agree with you, but London is far from the cheapest city in the world, as I'm sure you're aware - money will be required.
I hope the committee that evaluates bids looks for communities of Wikimedians who are prepared to host Wikimania. A big check does not a community make, and no amount of spending of donors money will replace actual Wikimedians with the interest and desire in hosting Wikimania.
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