But Newham Councillor John Gray has called for an independent judicial review instead, citing one that was carried out earlier this year for Lewisham Council over a land deal relating to Millwall’s stadium.

But Sir Robin rebuked the idea, saying: “We’ll bring independent forensic experts in and we’ll move quickly on it. I’ll consult with colleagues to make sure we’ve got somebody who people feel is the right person to carry out the review. What I want is a fast review, because I want the information out very quickly.”

Throughout the meeting, which lasted almost two hours, Sir Robin reiterated his position on investing in the stadium, saying: “It was right to do it.”

But he added that the council would not be getting their £52m investment back “in that way”.

“It’s always disappointing when you do not meet the full financial outcomes you hope to achieve,” he said.

“But the direct gains for the council far outweigh the money invested.”

“It’s not what we thought it was going to be,” Sir Robin admitted.

But he added: “We’re much better off having been in it than not having been in it.

“While there is a mess arising from the contracts, Newham Council is coming out with more than it went in.

“This has no impact whatsoever on our budget. We didn’t account for anything coming back so it has no impact on our council tax decisions”