Plans for a new sports and entertainment venue have been submitted, with the prospect of creating thousands of new jobs.
The Madison Square Garden Company (MSG) has submitted a planning application to the London Legacy Development Corporation (LLDC) to "transform" a site in east London.
The New York-based company has bought a 4.7-acre site in Stratford which has been left empty since it was last used as a temporary coach park during the 2012 London Olympics.
The new venue, known as the MSG Sphere, would have a capacity of 21,000 for seating and standing and the biggest LED screen in the world, and would host concerts, shows and sporting events.
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Jayne McGivern, MSG's executive vice president of development and construction, said: "This is an opportunity to take an inaccessible coach park and use it to support thousands of jobs, and billions of pounds of economic benefit.
"Our plans make training and local hiring a priority and would create a premier destination that serves as a long term investment in the future of Newham, London, and the UK.
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"If our plans are approved, we believe MSG Sphere will complement London's existing venues and drive overall growth in the music and entertainment market - benefiting residents, artists and fans."
MSG said thousands of jobs will be created during the construction phase, with 1,200 on site after it opens, and a further 2,000 supported in businesses and services across the UK.
The venue is expected to open in 2022.
