A  London Assembly report suggests the general financial outlook of the London Stadium and wider park is a “ticking time bomb” for the next London mayor.

Some of the findings in the 22-page report, compiled by the London Assembly’s all-party Budget and Performance Committee, are vehemently disputed by the LLDC.

London mayor Sadiq Khan took control of the LLDC in 2017 after a critical independent review highlighted the negative financial impact of deals agreed over London Stadium in particular, which date back to Prime Minister Boris Johnson’s time as mayor.

The report also states there has been “limited progress” in efforts to find alternative sources of stadium income, including a naming rights sponsor, the search for which has already cost nearly £450,000..  The LLDC’s difficult financial position is laid bare at the end of the report.

However, whether the LLDC run out of money or not is no concern to West Ham as their contract is guaranteed by the government to avoid the company that owns the London Stadium from putting itself in administration,

“There is no extra few quid lurking under the sofa for LLDC when it runs out of money,” it says.

“Many former Olympic parks across the world have turned into derelict, costly disasters.

“There is now a real threat that the very issue that was meant to be different this time around will be repeated, and that the capital will be bearing the legacy of a costly, taxpayer-funded albatross, hanging around the neck of Londoners for decades to come.”

A spokesperson for the Mayor of London said he has been working with the LLDC to fix a “catalogue of appalling errors left by his predecessor that left the taxpayer to foot an annual loss of around £20m. The Mayor has made significant inroads to reduce the burden of the stadium on taxpayers.”

A LLDC spokesperson said it was disappointed by the “lack of context and errors in the report”.

They added: “Regeneration is vital at this time in creating jobs, neighbourhoods and investment.

“The 2017 World Athletics Championships, hosted at the stadium, alone brought in more than £100m of spend.”

contract has a clause inserted by Vice-Chairman Karren Brady which insists that the contract