Formula One in Olympic Stadium under consideration

 

Plans for a Formula One circuit in and around the Olympic Stadium are officially now under consideration.

The scheme is one of four being reviewed by the London Legacy Development Corporation who are charged with the task of finding a suitable use for the showpiece venue of the forthcoming Games.

The LLDC will also be looking at three other bids, namely from football clubs West Ham and Leyton Orient, along with University College of Football Business, who are an affiliate of Bucks New University.

An LLDC statement read: "Following an extension to the bidding period, the Legacy Corporation can today reveal it has received four bids for the venue.

"Bids from West Ham United, Intelligent Transport Services in association with Formula One, UCFB College of Football Business and Leyton Orient will now be assessed to ensure they are compliant before being evaluated ahead of negotiations."

Intelligent Transport Solutions Ltd, who are based at Wanstead in east London, have already held preliminary talks with F1 supremo Bernie Ecclestone with regard to using the stadium as a circuit.

Any potential race would form a second British round of the world championship to run alongside the British Grand Prix at Silverstone.

Ecclestone has tentatively given his blessing, stating a month ago ITS Ltd are a firm "bidding for use of the stadium, not to own it."

Ecclestone added: "They came up with a scheme whereby Formula One would race around the stadium, inside it, outside it. They wanted to make sure I would be interested."

It is understood, however, Ecclestone will not throw his full weight behind the plan unless ITS Ltd win the bidding process.

ITS Ltd face particularly strong competition from the football clubs in the Hammers, newly promoted back to the Barclays Premier League, and League One Orient.

West Ham were originally selected as tenants before a legal row ensued which resulted in the bidding process being started a second time.

Orient's proposal is understood to be a ground share with West Ham, a prospect on which the latter is far from keen.

O's chairman Barry Hearn told BBC Sport: "There is no point dwelling on the design of the stadium and the faults of the stadium.

"We have to get on with it, we have to make a fist of it and we have to make sure the Government and the people of this country get maximum value for the investment that has gone into the Olympic Stadium.

"Our idea does that, and I think it forms part of a legacy people in this country can be proud of.

"Bearing in mind this is the only time in our lifetime we are ever going to hold the Olympic Games, we need to get something out of it.

"A mixture of usages and a mixture of opportunity within the Olympic Stadium will give us the feeling we have spent our money wisely and that is really what we are trying to achieve.

"All sides have to exercise common sense and move forward. I think we have created a very interesting scheme that can do just that."

Essex County Cricket Club, in tandem with the University of London, were initially in the running, but have now pulled out.

PA

Have you tried new the Independent Digital Edition apps?
Caption competition
Caption competition
Latest stories from i100
Daily Quiz
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

Career Services

Day In a Page

HIV pill: Scientists hail discovery of 'game-changer' that cuts the risk of infection among gay men by 86%

Scientists hail daily pill that protects against HIV infection

Breakthrough in battle against global scourge – but will the NHS pay for it?
How we must adjust our lifestyles to nature: Welcome to the 'Anthropocene', the human epoch

Time to play God

Welcome to the 'Anthropocene', the human epoch where we may need to redefine nature itself
MacGyver returns, but with a difference: Handyman hero of classic 1980s TV series to be recast as a woman

MacGyver returns, but with a difference

Handyman hero of classic 1980s TV series to be recast as a woman
Tunnel renaissance: Why cities are hiding roads down in the ground

Tunnel renaissance

Why cities are hiding roads underground
'Backstreet Boys - Show 'Em What You're Made Of': An affectionate look at five middle-aged men

Boys to men

The Backstreet Boys might be middle-aged, married and have dodgy knees, but a heartfelt documentary reveals they’re not going gently into pop’s good night
Crufts 2015: Should foreign dogs be allowed to compete?

Crufts 2015

Should foreign dogs be allowed to compete?
10 best projectors

How to make your home cinema more cinematic: 10 best projectors

Want to recreate the big-screen experience in your sitting room? IndyBest sizes up gadgets to form your film-watching
Manchester City 1 Barcelona 2 player ratings: Luis Suarez? Lionel Messi? Joe Hart? Who was the star man?

Manchester City vs Barcelona player ratings

Luis Suarez? Lionel Messi? Joe Hart? Who was the star man at the Etihad?
Arsenal vs Monaco: Monaco - the making of Gunners' manager Arsene Wenger

Monaco: the making of Wenger

Jack Pitt-Brooke speaks to former players and learns the Frenchman’s man-management has always been one of his best skills
Cricket World Cup 2015: Chris Gayle - the West Indies' enigma lives up to his reputation

Chris Gayle: The West Indies' enigma

Some said the game's eternal rebel was washed up. As ever, he proved he writes the scripts by producing a blistering World Cup innings
In Ukraine a dark world of hybrid warfare and murky loyalties prevails

In Ukraine a dark world of hybrid warfare

This war in the shadows has been going on since the fall of Mr Yanukovych
'Birdman' and 'Bullets Over Broadway': Homage or plagiarism?

Homage or plagiarism?

'Birdman' shares much DNA with Woody Allen's 'Bullets Over Broadway'
Broadchurch ends as damp squib not even David Tennant can revive

A damp squib not even David Tennant can revive

Broadchurch, Series 2 finale, review
A Koi carp breeding pond, wall-mounted iPads and a bathroom with a 'wellness' shower: inside the mansion of Germany's 'Bishop of Bling'

Inside the mansion of Germany's 'Bishop of Bling'

A Koi carp breeding pond, wall-mounted iPads and a bathroom with a 'wellness' shower