Unite suspended the strike planned for 5 July thanks to an offer from TfL to split revenue from additional fares with bus operating companies. This was conditional on the bus operating companies passing these monies to staff.
The TfL position follows an offer by the operating companies to supplement the £3.8m offered by the ODA with funds of their own.
After an extended period to discuss the deal at the ACAS table, Unite are putting the offer to their members today.
Previously announced deals on transport bonuses for the Games have included giving workers at Network Rail £500, Heathrow Express £700, London Overground £600, London Underground at least £850 and Docklands Light Railway £900.
This is a generous and comprehensive offer. Let's hope that it's accepted and that another obstacle to a successful Games can be surmounted.