West Ham United and Tottenham Hotspur were expecting to hear on Friday (January 28) whether they were the preferred bidder for the 2012 venue.

But the Barclays Premier League rivals must now face a longer wait to discover the outcome after the Olympic Park Legacy Company (OPLC) announced that they were postponing the decision.

"Tottenham Hotspur and AEG, and West Ham United and the London Borough of Newham – made final offers as part of the decision process concerning the future of the Olympic Stadium," they said in a statement.

"Given the detailed nature of both bids received, we need more time to seek further clarification with both bidders in order to identify a preferred bidder.

"The Stadium is a significant public asset and we have a duty to run a robust process."

A spokeswoman told insidethegames that the OPLC hopes to still reach a "settled position" and agreed a decision on the future of the £537 million ($836 million) Stadium before the end of the financial year in March.

"Securing the most appropriate solution for the Stadium is vital to our long-term aspirations for the future Queen Elizabeth Olympic Park and the wider regeneration of the area," the statement said from the OPLC.

While West Ham's bid proposes retaining the running track - a key commitment made by London 2012 during its successful bid - Tottenham, who have put in a joint bid with United States entertainment giant AEG, controversially want to rip it up and instead spend £25 million ($40 million) on redeveloping Crystal Palace to fulfil the legacy promised to athletes.

But the OPLC have also raised the possibility that they may reject both West Ham and Tottenham's bids and instead revert to the original plan.

"In addition to the two shortlisted bids, the Legacy Company also has the option of the original plan to convert the Olympic Stadium to a 25,000 seats, mixed-use venue. In going to market, the Legacy Company's aim was to consider options which would enhance and build on that plan," the statement said.

"The bids are being evaluated against criteria agreed by founder members at the outset of the process."

The OPLC claimed that their objectives are to achieve a viable long-term solution for the Olympic Stadium that is deliverable and provides value for money; to secure a partner with the capability to deliver and operate a legacy solution for a venue of the Stadium's size and complexity; and to re-open the Stadium for operational use as rapidly as possible following the 2012 Games.

They also said that they wanted to ensure that the Stadium remains a distinctive physical symbol supporting the economic, physical and social regeneration of the surrounding area; and to allow flexible usage of the Stadium, accommodating a vibrant programme of events allowing year round access for schools, the local community, the wider public and elite sport.

"Once the Legacy Company's Board recommends a preferred bidder, this will be subject to approval by the Government and the Mayor's Office," the statement said.

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