Olympic Stadium deal collapses
The government has confirmed that plans to sell the London
Olympic Stadium to West Ham United Football Club have collapsed and that the
stadium will be offered out to lease in post-game mode.
Two separate legal challenges over the decision to sell to West Ham - by West Ham's rivals Tottenham and Leyton Orient - have resulted in fears that the stadium could stand empty for years until the courts reach a verdict on the claims.
The stadium is now set to remain public property with a tenant given a long-term lease on the facility.
The decision could give the government the power to negotiate a deal that would secure the venue's running track - a key promise in the original Games bid.
IN a statement, sports minister Hugh Robertson said: "The process to sell the stadium has become bogged down. We're acting today to end the legal paralysis that has put that legacy at risk.
Ending the current sale process and looking for a leasehold solution will remove the current uncertainty and allows us to help secure the future use of the Stadium with more confidence."
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