The official match ball for next year's Olympics will be nicknamed 'The Albert', Adidas has announced (see here). The Games will be held in East London, an area previously associated with Cockney rhyming slang, and 'Albert' is old rhyming slang for 'ball'. The original phrase was 'Albert Hall', which is where the rhyme comes in; Cockney rhyming slang often dropped the last word in the phrase.
Adidas held a competition to name the ball and received over 12,000 entries.
The Albert in question is Prince Albert, Queen Victoria's consort. He was the driving force for the building of the Royal Albert Hall in Kensington. Albert is associated with this area of London. The Albert Memorial is here, and Albertopolis was slang for this area in the 1860s and 1870s (mentioned in Partridge's Dictionary of Historical Slang).
The OED has Albert as a type of watch-chain. Prince Albert is also in the OED; it is a type of frockcoat or tail coat, made popular by the prince. A Prince Albert is also a type of genital piercing, supposedly popular during the Victorian era.