4:32 AM
Shweta Pandey
Europe's largest urban shopping mall will get an Olympic makeover using the London 2012 brand and logo.
Its Australian owners hope the exclusive marketing rights will give the development a boost when it opens next Tuesday.
In return, Games organiser Locog has secured floorspace in the 1.9million sq ft centre which forms a gateway to the Olympic Park. An official merchandise store will open next month and will be crucial to London 2012 reaching its target of raising £80 million through sales of licensed products.
Locog, which will employ 200,000 people at next summer's peak, will also use the mall as an operational and logistics hub by taking over the 3,000-space car park and setting up temporary offices. The mall will also host the official hospitality zone for Team GB.
Westfield has handed over cash for part of the deal but the largest part is believed to be "value-in-kind" use of the shopping centre.
Games chiefs commonly sign licensing deals with retail chains but it is thought to be the first time a shopping centre has bought official Olympic status.
Three quarters of Olympic spectators will be routed through the mall, passing along the tree-lined Chestnut Plaza before entering security checks.
Separate to the deal, Locog has taken the 600-plus rooms in Stratford City's three hotels, the Holiday Inn, Premier Inn and Stalybridge Rooms. The deal with Westfield takes Locog to its £700million domestic sponsorship target with revenues going towards the £2billion-plus cost of the Games.
Locog chief executive Paul Deighton said: "With Westfield Stratford City on the doorstep of the Olympic Park and set to be a major destination for athletes and spectators alike at Games-time, it is an obvious and perfect fit."
Michael Gutman, managing director for Westfield UK/Europe and New Markets, said: "We are delighted to be extending our relationship with Locog."
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