If no permanent tenant is found, then the stadium, earmarked for the Lower Lea Valley area of east London, at a cost of around £750m, could well be dismantled.
However, the IOC has said that this scenario would not compromise London’s bid.
The head of the London bid, Barbara Cassani is due to choose an architect for the stadium this week.
London’s recent experience with major building developments is not a positive one.
The Millennium Dome in Greenwich was built at a cost of over £800 million and has been empty since the end of 2000. There was also the fiasco of the 2005 World Athletics Championships which London had to pull out of hosting, after failing to secure backing for a stadium at Picketts Lock.
The spiralling costs and constant delays in rebuilding Wembley Stadium have led to many people opposing London’s bid for Olympics on the grounds that it is economically unviable and unnecessary.
