The Olympic Park Legacy Company is seeking two principal advisory partners to help it find a viable use for the main stadium (pictured) after the London 2012 games.

The company, headed by chairman Baroness Margaret Ford and chief executive officer Andrew Altman, last month issued a competitive tender through the Office of Government Commerce for two partners to provide financial and legal advice as it determines the future use of the main stadium.

The tender sets out conditions for advisers who can provide expert advice and commercial analysis of the viability of any proposed use.

One partner at a law firm that has submitted a bid to provide legal services said: “It is a procurement process about finding legal and financial partners who can take an ‘overarching’ approach and look at the potential uses for the stadium to see if they have a realistic chance of working.”

Finding a use for the £547m stadium has been one of the most contentious issues of the Olympic legacy. One of the first decisions Ford made when appointed as legacy chairman was to review the decision to reduce the size of the stadium after the games ended.

Among the options to have been mooted for the stadium are using it for athletics or as a home ground for rugby team Saracens or West Ham United Football Club.

Regeneration experts say ensuring that the stadium does not turn into a white elephant will be a key factor in a successful legacy.

Last month the Olympic Park Legacy Company confirmed that it was starting the process to find a potential use for the stadium. It has already had approaches from interested parties. This will be followed by a formal bid process and the company hopes to reach a “settled position” by the end of the next financial year in March 2011.

The two advisers are expected to be appointed soon to help the legacy company assess the bids.

A spokesman for the Olympic Park Legacy Company said: “We have begun the process of securing the best possible use of the Olympic stadium after the games. Its scope and complexity requires us to utilise experts across several fields, including appointing advisers for legal and finance.”

“In the coming months, we will put in place a process to allow appropriate uses for the stadium to be brought forward, which we will then evaluate prior to making recommendations to the mayor and ministers.”

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