On 13 October 2006, LOCOG confirmed that it had selected the Team Stadium consortium (consisting of Sir Robert McAlpine; HOK Sport + Venue + Event, now known as Populous; and Buro Happold) to start negotiations with, in hope to find the contractor fulfilling the eventual design and build contract of the new Olympic Stadium.
The ODA received international and national interest to prequalify for the design and construction tender but Team Stadium was the only consortium to meet all prequalification criteria. The consortium was also the team who delivered the locally acclaimed new Emirates Stadium, home of Arsenal F.C. Team Stadium members have extensive experience in the design and build of sports venues, including the Olympic Stadium for the 2000 Sydney Games.
On 11 October 2011 Britain's Olympics minister Hugh Robertson confirmed the collapse of the Olympic Park Legacy Company's agreement with West Ham to take over the stadium after the games. The OPLC announced that negotiations with West Ham, unveiled as the preferred stadium bidder in February 2011, had ended because of growing concerns over delays caused by the ongoing legal dispute with rival club Tottenham Hotspur. West Ham had not signed any contracts, allowing the OPLC to abandon talks with the club. The stadium, which cost an estimated $760 million, will now remain in public ownership and leased out to an anchor tenant following a new tender process.