Olympic Legacy

13 August 2012, 10:32 | Updated: 14 August 2012, 18:40

After last night's closing ceremony the man in charge of the Olympic legacy is warning the full benefits of the Games won't be felt for another twenty years.

Daniel Moylan, chairman of the London Legacy Development Corporation, says the infrastructure created for the Games will form the foundation of redevelopment over the next two decades.

Plans are in place to make sure that the Olympic Park still attracts visitors after the Olympic and Paralympic Games have ended.

The renamed Queen Elizabeth Olympic Park will reopen to the public from July 27th 2013, a year after the Olympics opening ceremony.

Transformation of the 560-acre site in Stratford will take 18 months from October, and four bids are currently in the running to take over the Olympic Stadium after London 2012.

Meanwhile the Prime Minister has guaranteed funding for Olympic sports until the 2016 Games in Rio.

UK Sport will receive £125 million pounds a year for the next four years.