Published Thursday, 26 July 2012
The pop group will headline the special gig in London's Hyde Park on Friday to mark the start of the 2012 sporting event.
Acts representing all four nations of the United Kingdom will play at the show - Duran Duran will be England's chosen act, the Stereophonics will play for Wales, Snow Patrol for Northern Ireland and Paolo Nutini for Scotland.
Critics have questioned the Rio hitmakers' inclusion in the special concert, but Taylor is adamant the band deserves its place in the line-up.
He tells told the Daily Star: "It's a real honour and was an immediate 'yes' when we were asked.
"There was a little doubt cast about us performing, but we have worked hard enough and put enough into our career to be a legitimate act for this event."