The warning came from Baroness Margaret Ford, the chairman of the OPLC, after the new coalition Government postponed the transfer of the site subject to a Treasury review.

The body, established a year ago to ensure that the Games’ facilities and infrastructure provided the maximum benefits for East London, was due to take ownership of the site last month under a deal cut with the previous Government.

A number of private companies have since expressed an interest in taking over the Olympic Stadium, including Premier League West Ham United and entertainment giant AEG.

But any potential negotiations could be seriously compromised if the OPLC does not gain control of the land soon, Ford has claimed.

Ford told the BBC London: "We need the freedom to act to go ahead and cut all of these deals now.

"Nobody wants any of these venues left empty after the Games.

"We know from other Olympics cities that if you don't get your act together in time - and 'in time' means two years before the Games start and not two weeks after the Games - you will be left with a legacy that is really not something to be proud of."

Andrew Boff, the London Assembly’s Conservative group spokesman on the Games, is among those leading the criticism.

He said: "The Olympics will be brilliant - I’m not knocking it.

"The question here is whether it was the most effective way of regenerating East London.

"The legacy part hasn’t really been thought through."

But London Mayor Boris Johnson claimed that he has spoken to Prime Minister David Cameron about the situation and is confident that it will be resolved soon.

Johnson told the BBC London: "I think we've got is any new Government want to come in and kick the tyres - just to make sure everything is as they think it should be.

"My mission is to make it absolutely clear that this is a very good deal.

"It's fiscally neutral.

"It enables the Olympic Park Legacy Company to get on with their vital work of doing deals with all sorts of people about the stadium, about the housing."

Contact the writer of this story at [email protected]


Related stories
June 2010: Boris Johnson wants to control future of London 2012 Olympic legacy
June 2010: Olympic Park Legacy chief warns Government they must not be burdened with debt
May 2010: Exclusive - Money will not decide who gets Olympic Stadium claims legacy company
March 2010: Olympic Park legacy deal finally agreed
February 2010: High risk of Olympic venues becoming white elephants warns new report