West Ham United have been named preferred bidders to move into the Olympic Stadium. Mayor of London Boris Johnson, who also chairs the London legacy Development Corporation (LLDC) made the announcement that the east London club are ranked as the number one choice for the stadium over fellow football team Leyton Orient, the University College of Football Business and a consortium linked to Formula 1. He admitted though that the plans were far from concrete and a lot of negotiation still needed to be done.
Owners David Gold and David Sullivan have agreed to share the profits if the club is sold, as the move to the Olympic Stadium is expected to increase the value of the club. Having only acquired a joint 60 per cent stake in the club in 2010, it is not believed the two are looking to sell.
Vice-Chairman Karen Brady said that she was proud the club had, "been awarded Highest-Ranked Bidder status," and that the move was a, "historic opportunity to return to West Ham and make this magnificent iconic Stadium our home for the next 100 years."
The move would see seating at the 80,000 capacity stadium reduced to 60,000, with other sporting events, such as the World Athletics Championships in 2017, also held at the venue.
Written and presented by Alfred Joyner