West Ham United have been named the preferred bidder to move into London’s Olympic Stadium.
The Hammers have moved to the front of the queue to take up residency in Stratford, East London, but they will not be able to do so until 2016 or 2017.
Mayor of London, Boris Johnson, made the announcement today but made it clear that final commercial terms between the London Legacy Development Corporation (LLDC) and West Ham still have to be agreed upon.
"It will, if it goes through, mean a football legacy for the stadium but there is still a lot of negotiation still to go on between the LLDC and West Ham United about the terms of the deal,” he said.
"There is no dealbreaker as such. It is just a question of making sure that an asset which is a public asset and something that taxpayers put half a billion pounds into, that the value of that is properly reflected in the commercial deal that is now being done with a private sector entity.
"People will understand that my job is to get the best possible deal for the taxpayer."
The Olympic Stadium cost £429million to build and seats 60,000 as opposed to West Ham’s Upton Park stadium which has a capacity of 35,000.