West Ham United and Newham Council are pleased to announce global media giants Live Nation - the largest live entertainment company in the world - are supporting their joint legacy bid for the 2012 Olympic Stadium.
After a series of meetings, Paul Latham, Chief Operating Officer of Live Nation Entertainment, has written to West Ham Vice-Chairman Karren Brady to pledge his backing for a state of the art stadium that will be a centre of sport, education and culture.
The statement included hope of "making the Olympic Stadium, the rest of the Olympic Park, and the surrounding area, a destination of worldwide significance". Unrivalled in staging major entertainment concerts and events, Live Nation are partners with Madonna, U2 and Jay-Z.
In his letter to West Ham, Paul Latham said: "Further to our recent meetings and discussions, I am writing to confirm Live Nation's support for the West Ham/Newham Council bid to take over the Olympic Stadium after the 2012 Games.
"As you know, Live Nation is the world's largest live events company. In 2009, Live Nation sold 140 million tickets, promoted 21,000 concerts, partnered with 850 sponsors and averaged 25 million unique monthly users of its e-commerce sites.
"We regard the Olympic Stadium as an exciting project which would be a superb venue for hosting major concerts and other events. We would be happy to continue working with you to ensure that we bring major concerts and other events to the Stadium on an annual basis."
Karren Brady said: "This fantastic support from Live Nation will take our legacy ambitions to another level. Over the past eight months ourselves and Newham have been talking to the biggest and best global names to ensure we can make the Olympic Stadium dream a reality.
"Live Nation immediately bought into our vision and see the potential in turning the world's spotlight firmly on to east London, and the determination we at West Ham and Newham have to regenerate this proud part of the capital - and preserve the Olympic ideals.
"We will create a busy, viable and sustainable stadium that will stand for generations to come. We will make a multi-million pound investment to make it suitable for the different uses we propose but we are adamant it will be free of ongoing public subsidy and gate receipts will be shared with Newham Council, ensuring financial benefits are passed on to the local community. The area will also benefit in many other ways such as employment, health and education."
Live Nation are the latest leading organisation to endorse the West Ham-Newham bid with those on board including: Westfield, HS1 Ltd, University of East London, Essex Cricket, ExCel London and London City Airport.