[You must be registered and logged in to see this link.]West Ham United delivered a final "take it or leave it" offer to the London Legacy Development Corporation on Friday as the long running saga over the future of the Olympic Stadium enters its end game.
The LLDC insists that it is determined to come to a decision by the end of the year and West Ham's latest offer, understood to improve substantially on the £10m upfront contribution to the £160m conversion costs previously tabled, is designed to force the issue.
The club are likely to argue that their best and final offer represents the only chance of guaranteeing a sustainable future for the stadium without ongoing public subsidy.
West Ham have repeatedly indicated they remain committed to moving to Stratford but "not at any price". Meanwhile, the LLDC chief executive Dennis Hone has said he wants to reach a solution with the east London club but "not at any cost to the taxpayer". The standoff has created ongoing uncertainty over the fate of the £468m stadium.
In addition to an estimated £2.5m a year in rent, index-linked to RPI, sources close to the negotiations have said that West Ham believe their offer is worth an additional £6m a year to the LLDC given a commensurate uplift in stadium naming rights and catering income. But the LLDC believes those figures are too optimistic and it would also have to meet matchday costs estimated at £2.5m or more a year and help fund the conversion costs.
If West Ham are chosen, Newham Council may also increase the £40m it has offered to inject as a loan to help fund the conversion w**k.
However, others on the LLDC board argue that it now makes sense to walk away from Premier League football, which necessitates spending at least £160m on a new roof and retractable seats, and instead invest £30m in getting ready to open as soon as possible as a multi-use venue without football.
Hone has already admitted that if West Ham are chosen as tenants, then it could be August 2016 before they play their first competitive match in the stadium.
Earlier this week, the UK Athletics chairman Ed Warner urged the LLDC and its chairman, the London Mayor Boris Johnson, to reach a decision. He warned that the saga was becoming a "Stratford farce" amid fears that the goodwill generated by the Games would ebb away the longer the process dragged on.
The Guardian revealed last month that the long running saga would be delayed yet again. An earlier decision to hand West Ham the lease to the stadium had to be abandoned in the wake of legal challenges from losing bidders Spurs and Leyton Orient, and an anonymous complainant to the European Commission.
The current process – which also attracted bids from Orient, a football business college and a consortium hoping to stage Formula One races – has been extended several times, causing the reopening date to slip to 2015 or even 2016.