West Ham United and Newham Council's joint-bid to take over the Olympic Stadium after the 2012 Games has been formally ratified.
The Government and Mayor of London confirmed on Thursday morning the Olympic Park Legacy Company's decision to recommend the club as the preferred bidders for the Olympic Stadium.
West Ham United Vice-Chairman Karren Brady said: "I am pleased and proud the Mayor of London and Government have today endorsed the Olympic Park Legacy Company's recommendation that West Ham United and Newham Council be preferred bidder for the Olympic Stadium.
"I am grateful for their support and the clear recognition of the strengths of a financially strong, community-based bid that will do much for the regeneration of east London. At this time, I must also personally thank Baroness Ford and Andy Altman of the OPLC for the thorough and professional way they have handled this entire process. I look forward to working with them in the future and making their vision a reality.
"At West Ham, we have been entrusted with a great responsibility and the OPLC's unanimous backing will only inspire us further to make good on our legacy promises. In many ways, the hard work starts now. The starting gun has been fired and we are off and running. This will be an Olympic Stadium to make everyone proud, a multi-sports, multi-event arena that will be both a spectacular local and global attraction. We will not let anyone down."
Mayor of Newham Sir Robin Wales said: "We are pleased the Government has recognised the strength of our bid, which is focused on guaranteeing community benefits for our residents and contributing to a meaningful legacy for east London, the capital and the country.
"We are working with our partners West Ham United on the commercial aspects of our joint bid and look forward to a handover of contracts later this year with the Olympic Park Legacy Company."
In welcoming today's developments, the OPLC said: "We are pleased that the Mayor and Ministers have approved our recommendation. We look forward to working with the preferred bidder, West Ham United and the London Borough of Newham, in order to bring the future of the Stadium to a financial close."