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West Ham to be first bidder for Olympic Stadium

Dec 5, 2012, 1:12 PM EDT

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The Premier League’s West Ham football (read: soccer) club has been selected as the “first bidder” to become the main tenant of the new Olympic Stadium, and will enter into negations on a 99-year lease with the London Legacy Development Corporation headed by mayor Boris Johnson.

“I feel privileged to have been granted the responsibility to play a key part in delivering a true Games legacy,” West Ham vice-chairman Karren Brady announced Wednesday.

“We are now committed to working closely with our new partners and stakeholders in the Stadium to successfully conclude our discussions and bring our collective ambitions to fruition.”

The stadium, which cost roughly $780 million to construct, may have to sit vacant until 2016 because of an estimated $285 million in necessary renovations, including shrinking the seating down to 60,000. Negations will likely hinge on what amount West Ham is willing to put towards said renovations.

The next major event set to be held at the stadium is the World Athletics Championships in 2017.

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