The government and the Mayor of London have approved the recommendation of the Olympic Park Legacy Company to make West Ham United and the London Borough of Newham the preferred bidder for the future use of the Olympic stadium.
This completes the first stage of the process. The Olympic Park Legacy Company will now begin detailed negotiations with West Ham and Newham.
The criteria set out to for the future of the Olympic Stadium included value for money, continued community use for sport, the ability to run the Stadium and maintain it as a symbol of local regeneration, and swift re-opening after the 2012 Games.
In a Written Ministerial Statement in parliament Bob Neill said:
My colleague the Minister for Sport and the Olympics and I have today given our approval to the recommendation of the Olympic Park Legacy Company to select the joint bid from West Ham United Football Club and the London Borough of Newham as the preferred bidder for the legacy use of the Olympic Stadium.