A plan to run a Formula One event in the Olympic Park in London has failed after the London Legacy Development Corporation announced who it had selected as the preferred bidder to move into the Olympic Stadium.

Intelligent Transport Solutions Ltd had launched a bid to host a race in and around the stadium earlier in the year, with football clubs West Ham United and Leyton Orient and the University College of Football and Business also putting proposals forward to make the Olympic Stadium their new homes.

Having looked at the different bids, West Ham has now been named as preferred bidder in a move that will end the dreams of an F1 race around the park, which hosted the successful London Games this summer.

Related Articles

Although there remains a chance that West Ham's move might not take place, it would seem unlikely that F1 would be considered as a second options, with LLDC stating that 'Intelligent Transport Services were also unsuccessful due to too much uncertainty in relation to key aspects of their bid and assumptions in their business plan'.

F1 supremo Bernie Ecclestone has made no secret of the fact that he would like to see an F1 race in London, albeit with his preferred option being for an event on a street circuit.