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Bid to turn Olympic Stadium into Formula 1 venue officially received

Olympic Stadium LondonA bid to turn the Olympic Stadium in London into a Formula 1 venue has now been officially received for consideration by officials, who will now examine it before deciding what happens to the site in the future.

After weeks of speculation about the idea of holding a grand prix around the Olympic Park, the London Legacy Development Corporation confirmed on Tuesday that the bid to host an F1 race was one of four that was now being considered.

In a statement, it said: "Following an extension to the bidding period, the Legacy Corporation can today reveal that it has received four bids for the venue. Bids from West Ham United, Intelligent Transport Services in association with Formula 1, UCFB College of Football Business and Leyton Orient will now be assessed to ensure they are compliant, before being evaluated ahead of negotiations."

Formula 1 supremo Bernie Ecclestone said last month that he had been consulted by the Intelligent Transport Services company about the plan - which would involve F1 using the stadium for a race rather than owning it.

Speaking to the Telegraph at the time, Ecclestone said: "This is a firm that happened to be bidding for use of the stadium, not to own it. They came up with a scheme whereby Formula 1 would race around the stadium, inside it, outside it. They wanted to make sure I would be interested."

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