The OPLC has today announced that the Club is not the preferred bidder for the Olympic Stadium site.
The Olympic Stadium site is an essential element in the creation of a viable Olympic Park and we know that, together with AEG, we provided a first class proposal to support the sustainability of the whole project.
It was never an option, however, that we would retain the running track as we believe this to be unacceptable for our supporters and therefore wholly unviable in the long term. It carries with it the major risk of being incapable of delivering a lasting legacy without further calls on the public purse or a requirement for changes to the stadium and track at a later date.
Much has been made of the promise to keep the Athletics track within the Olympic Stadium and, therefore, we should all expect to see the retention of this track firmly embedded and legally guaranteed by those entrusted with this legacy commitment, today and in the future.
We submitted an honest bid with the only solution we considered capable of delivering lasting regeneration, a significant return to the public purse and wide-ranging benefits to the local communities and to London.
The OPLC’s decision has still to be approved by two Government departments and the Mayor’s Office. We shall continue to monitor the bid process over the coming weeks up until its final determination, whilst reviewing our position and holding discussions with our advisors.
We shall spend time assessing our situation in respect of a new stadium and when we have any further information we shall update our supporters.