March 11 2014 Latest news:
Monday, May 14, 2012
Parties interested in taking control of the Olympic Stadium after the Games have been given an extra eight weeks to submit their bids.
Legacy bosses have extended the process after issues arose surrounding naming rights, stadium improvements and governing body approvals.
A decision on a successful tenant for the venue was expected on May 21.
West Ham United, Essex County Cricket Club and the University of East London were among 16 parties to register their interest in signing the 99-year lease on offer.
They will be able to re-submit their bids.
Andrew Altman, chief executive of the London Legacy Development Corporation, said: “We have been very encouraged by the quality of the bids so far.
“However, a number of issues have arisen during the process and we believe it is sensible to give everyone more time so they can be addressed.
“We want to make the process as competitive as possible and extending the competition period will allow all parties that registered an initial interest in the stadium another chance to bid.
“The fundamentals have not changed and it remains our intention to sign construction contracts for converting the Stadium at the end of October, with the intention of re-opening in 2014 as previously announced.”