The London Legacy Development Corporation (LLDC), which manages the stadium, says it is in talks with various event organisers.
An LLDC spokesperson said: "The Legacy Corporation is exploring a number of options with event organisers to bring concerts to the stadium in by July this year. These talks are ongoing and an announcement will be made in due course."
The stadium is set to officially re-open on 27 July to mark the anniversary of the opening ceremony of the Olympic Games.
Concerts previously held in Hyde Park, which were run by Live Nation until AEG took over the contract in November, could also move to the stadium, according to a BBC report. Live Nation told Event it was not in a position to comment on the reports at this point.
The news means the stadium could become a rival to other London concert venues like Hyde Park, The O2 and Wembley Arena.
Jeremy King, director of communications for The O2, said it doesn’t see the Olympic Stadium as a major competitor. "The Olympic Stadium is a huge venue and only a limited number of artists could fill that many seats. We always keep an eye on what venues in our neighborhood are doing, but we think it would be more of a competitor to Wembley Stadium. We are currently trying to diversify to become a destination, by focusing on our resturants and attractions like Up at The O2 as well as music."
Negotiations are taking place for West Ham United FC to play at the stadium in the next few years, after it was revealed to be the preferred bidder for the venue.
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