The Olympic Stadium will remain under public ownership after the London 2012 Games, following a break-down in negotiations between legacy firm Olympic Park Legacy Company (OPLC) and football club West Ham United.
The OPLC had agreed to sell the £587M showpiece 90,000 capacity stadium to West Ham and Newham Council following the Games, but today announced that it has decided to abandon negotiations with the football club and the council due to fears that rival football club Tottenham Hotspur’s ongoing legal challenge could delay conversion of the stadium.
The stadium will now remain in public hands with the OPLC restarting the tendering process to find tenants to use the new stadium. West Ham planned to reduce stadium capacity to 60,000, but retain the running track.
The OPLC declined to comment on whether the decision not to sell the stadium will affect its ability to recoup the costs of building the venue.