Filed: Monday, 14th May 2012
By: Staff Writer
The London Legacy Development Corporation has confirmed it is extending the bidding process for the Olympic Stadium by a further eight weeks.
The original decision to confirm the new tenents of the Startford-based stadium was initially due on 21st May. However that date has now been delayed until mid-July to "allow all parties who registered to receive the Invitation to Tender (ITT) additional time to submit a bid."
Andrew Altman, Chief Executive of the LLDC, said: "We are determined to run a process that is fair to all and delivers the best possible legacy for the Olympic Stadium. We have been very encouraged by the quality of the bids so far.
"However, a number of issues have arisen during the process and we believe it is sensible to give everyone more time so they can be addressed.
"We want to make the process as competitive as possible and extending the competition period will allow all parties that registered an initial interest in the Stadium another chance to bid.
"The fundamentals have not changed and it remains our intention to sign construction contracts for converting the Stadium at the end of October, with the intention of re-opening in 2014 as previously announced.
"This is a significant public asset and a 99 year lease, and it is right that we take the time now to get the best possible outcome for the Stadium."
The LLDC superseded the Olympic Park Legacy Company, who initially awarded use of the £500million stadium to West Ham in 2011, on 1st April this year.
It is thought that a number of new applicants may step forward now that the decision ha s been delayed.
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