Aug.6 (GMM) Bernie Ecclestone has admitted it is unlikely a bid to stage a grand prix at London's Olympic stadium will succeed.

A company called Intelligent Transport Services recently launched the bid to take over the Olympic venue and use it for a formula one race once this week's Games have ended.

But on a visit to Olympic Park at the weekend, F1's chief executive said he actually favours rival plans to stage a London street race that would see the cars drive past some of the city's most famous landmarks.

When asked about the Olympic stadium plans, Ecclestone said: "I would rather have a race where we originally planned in central London.

"It is a project we are going to try and make happen," he is quoted by the Times newspaper.

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