West Ham United and Newham Council are working on plans to turn the 2012 Olympic Stadium into a football and athletics venue once the games have finished.
The struggling Premiership side, which lies just one place above the relegation zone, is looking at submitting a joint bid to the Olympic Park Legacy Company which is responsible for the development of the park after 2012.
The joint plan would see the venue kept open all year round and, as well as football and athletics, host a series of community events.
Newham mayor Robin Wales said: “The last thing anyone wants is for the Olympic Stadium to become a ghost of Olympics past.
“The only realistic solution is to make the stadium work for a Premier League football team and that should be West Ham United. We have never understood why that wasn’t obvious.”