West Ham have been boosted by the world's biggest concert promoter in their bid to take over the Olympic Stadium.

Live Nation, the US-owned company which promotes events for rock and pop acts such as U2 and Madonna, have been revealed as part of the Hammers/Newham Council consortium. The company is understood to be interested in running official live events at the London 2012 Games, including a concert in Hyde Park.

"This fantastic support from Live Nation will take our legacy ambitions to another level," said West Ham vice-chairman Karren Brady. "Over the past eight months we have been talking to the biggest and best global names to ensure we can make the Olympic Stadium dream a reality."

She added: "Live Nation immediately bought into our vision and see the potential in turning the world's spotlight firmly on to east London, and the determination we at West Ham and Newham have to regenerate this proud part of the capital - and preserve the Olympic ideals.

"We will make a multi-million pound investment to make it suitable for the different uses we propose but we are adamant it will be free of ongoing public subsidy and gate receipts will be shared with Newham Council, ensuring financial benefits are passed on to the local community.

"The area will also benefit in many other ways such as employment, health and education."

After a series of meetings, Paul Latham, Chief Operating Officer of Live Nation Entertainment, wrote to Brady pledging his support for the bid.

Latham declared: "Further to our recent meetings and discussions, I confirm Live Nation's support for the West Ham/Newham Council bid to take over the Olympic Stadium after the 2012 Games.

"Live Nation is the world's largest live events company. In 2009, Live Nation sold 140 million tickets, promoted 21,000 concerts, partnered with 850 sponsors and averaged 25 million unique monthly users of its e-commerce sites.

"We regard the Olympic Stadium as an exciting project which would be a superb venue for hosting major concerts and other events. We would be happy to continue working with you to ensure that we bring major concerts and other events to the Stadium on an annual basis."

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