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Plan to host London Olympic race fails
Wednesday 05th December 2012, 19:26 by Ryan Wood
The 2012 London Olympic Stadium
Unsurprisingly, the plan to run a Formula 1 race in and around the London Olympic stadium has not been chosen as the preferred bid.
The plan, submitted by Intelligent Transport Solutions Ltd, put forward the idea of an F1 race around the 2012 London Olympic Park and stadium and was presented to the London Legacy Development Corporation which was tasked with finding a new tenant for the site.
LLDC however announced that West Ham United is the preffered bidder to takeover the stadium, beating other candidates including Leyton Orient and the University College of Football and Business - which is second in line should the West Ham bid fail.
The F1 bid failed because of "too much uncertainty in relation to key aspects of their bid and assumptions in their business plan," according to LLDC.