$700-million main Olympic stadium. Local soccer teams West Ham and Leyton Orient are among the bidders to become permanent tenants of the site, along with a sporting college and an ambitious scheme to host Formula One racing, the London Evening Standard reported . A final decision will be made next month. Despite the lack of certainty, International Olympic Committee chairman Jacques Rogge believes London's planning has set the bar high for future host cities. "There is a lot of things London has done, with probably also a better care for sustainability and legacy than many other cities in the past," he told an Olympic news conference last month.