West Ham United have agreed to sell their ground at Upton Park to London developer Galliard Group once they have moved to the Olympic Stadium in 2016.

The club have played at the Boleyn Ground in east London for over 100 years, but will move into the focal point of the 2012 Olympic Games in time for 2016-17 season.

The stadium, built at a cost of £430 million, will have a 54,000 capacity once it is converted for use by the club, who have been granted a 99-year lease and will contribute £15 million to conversion work.

“We opted to sign a deal with Galliard because they are a local London developer and employer with origins in east London,” chairwoman Karren Brady said.

“We know they are committed to working closely with the local community and Newham Council on proposals to transform the site into a residential and retail village.”

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