West Ham named Stadium tenants
West Ham have been handed the keys to the Olympic Stadium after a deal for the London 2012 centrepiece was finally agreed.
The Hammers were named preferred bidders in December but negotiations with the London Legacy Development Corporation (LLDC) have been long and tortuous.
However, the LLDC announced on Friday morning that a deal has now been signed off that sees the Barclays Premier League club become anchor tenants under a 99-year lease.
Plans for the revamped stadium have been unveiled, with the reported £150million facelift due to be completed in time for the 2016-17 season.
The Olympic Stadium will be transformed into a 54,000-seater venue, with the Hammers now set to embark on a detailed, independent supporter consultation process.
"It's fantastic for everyone at West Ham United that at last all the club's hard work over the past three years has paid off," joint chairmen David Sullivan and David Gold said.
"Since we came to West Ham in 2010 we have had a vision to really take the club forward so West Ham United can compete on the pitch at the highest level.
"Today's decision offers us a real platform to do this and we are fully committed to making it a real success.
"We understand the responsibilities that come with calling the nation's iconic Olympic Stadium, which will be converted into a world-class football stadium, our new home. It is an honour we will take on with pride."