West Ham United have been named as the preferred bidders to take over the Olympic Stadium, reports BBC Sport.
The London Legacy Development Corporation (LLDC) ranked the Hammers bid as the number one choice after a meeting on Wednesday.
BBC sports editor David Bond reported earlier on Wednesday that West Ham's owners must agree to share the profits from any future sale of the Premier League club if the move is to go through.
In a statement West Ham did not address this issue but said the LLDC's decision "guarantees a true and lasting legacy for east London and the best possible outcome for the British taxpayer".
Vice-chairman Karren Brady said the stadium could become a "multi-use destination of which east London and the nation as a whole can be proud".
"I have never lost sight of our vision to play our part, along with the Stadium's major stakeholders, in ensuring it grows into a global asset. It is the 'jewel in the crown' of the Park, watched by the world," she added.
The move would see West Ham relocate two miles from their 35,000-capacity Upton Park to a stadium downsized from 80,000 seats at the Olympics to 60,000.