London's Olympic stadium may become "white elephant"

LONDON (Reuters) - The showpiece stadium for London's 2012 Olympics risks becoming a "white elephant" if no tenant can be found for it after the Games, a committee said on Wednesday.

Games organizers are also falling short on delivering employment targets, tourism strategy and sports participation, it alleged.

The promise of a legacy was a significant factor in London winning the bid to host the 2012 Games, the London Assembly's Economic Development, Culture, Sport and Tourism Committee noted in a report.

"Urban and social regeneration, and increased sports participation, were to be the hallmarks of these Games," said Dee Doocey, chair of the committee.

"Some aspects are on track, but there are still areas that need more attention to deliver the promises that were made."

The report praised the clean-up of the former industrial site in Stratford, east London, where the Olympic Park is being built but said other aspects were of concern.

These included the failure to attract an anchor tenant for the main stadium. Rugby and soccer clubs have expressed interest, but have been put off by the organizers' commitment to retain an athletics track around the pitch.

"Without a credible anchor tenant to bring regular footfall into the park, there will be serious doubts as to the future financial viability of the venue and hence attractiveness of the park site to business investment," the report said.

"Without decisive action, the stadium is in danger of becoming a white elephant."

Other concerns included a shortage of sports facilities, especially for young people with disabilities.

The overall vision for the tourism strategy lacked detail and lacked funds, the report added.

It also said only 112 local unemployed workers had found work on the construction site, though it did recognize the Olympic Delivery Authority (ODA) had met its target of employing between 10 percent and 15 percent of the workforce from the five Olympic boroughs.

It recommended giving residents free or discounted access to sporting activities, and more jobs for local people.

More should be done to create an effective tourism strategy, including better low budget accommodation and fair prices.

A spokesman for the Mayor of London said work was being done to encourage more people to take up sport and to boost the marketing of the capital.

"The Mayor is confident that the new Olympic Park Legacy Company chaired by Margaret Ford will provide effective leadership in delivering a fantastic future for the Olympic Park and the sporting venues after the Games," he said in a statement.

(Editing by Steve Addison)