A British football team, with no barriers to fielding players from the home nations, will compete at the London 2012 Olympics, the British Olympic Association (BOA) says.

It has struck an agreement with the Football Association so Team GB will compete in both men's and women's football tournaments in Olympic football for the first time in 52 years.

Describing it as a "landmark" deal, the BOA said that consistent with requirements set out in the Olympic Charter, the selection criteria will be entirely non-discriminatory, as players from England, Scotland, Wales, Northern Ireland and other territories which fall under the BOA's remit as a national Olympic committee, who meet the approved competitive standard, will be eligible for selection.

Ongoing rows about the nationality of the players and the strength of the individual national football associations had led to fears that Britain would not be able to field a team in the first home Olympics in 64 years.

BOA chief executive and Team GB chef de mission Andy Hunt said: "Seeing Team GB take to the pitch in 2012 will be one of the defining moments of the London Olympic Games.

"It would be unthinkable to host the Olympic Games in Great Britain, home of the world's most knowledgeable and passionate football fans, and not have Team GB represented in both men's and women's football.

"We absolutely respect the participation of the home nations as individual nations at all other football events; 2012 is unique, we are hosting the Olympic Games and what has been achieved is fantastic for all those who love sport and love to watch great football.

"I want to express my appreciation to all four football associations for their recognition of just how meaningful it will be for Team GB to compete in football in London 2012."

FA general secretary Alex Horne said: "We're delighted there will be football teams representing Team GB at the London 2012 Olympics.

"It's important as the host nation, football plays its part in what is sure to be a fantastic spectacle."