West Ham United co-owners David Gold and David Sullivan have confirmed their interest in moving the club to the Olympic Stadium following the 2012 London games.
Talks with the Newham Council have commenced and it is believed the club and council have entered a working partnership that indicates the move has definite potential.
"We are very excited to be working with Newham and are already bursting with some fantastic and innovative ideas," said club vice-chairman Karren Brady.
"West Ham United is a people's club at the heart of its community and we want to grab this once-in-a-lifetime opportunity to create a real, life-changing legacy - not just for this part of London but for the wider area as well."