The London Development Agency will start a consultation next month on the options available to ensure that the UK Government's aspirations for the legacy of the Olympic site are met.
It is investigating the asset-backed route to tempt private sector re-generation partners to fund the development of the 500 acre site in East London after 2012 as it is acknowledged as one of the most innovative methods to secure long term re-generation funding.
The agency would place most of the site, which it owns, into a special-purpose vehicle to tempt developers into partnering it in what would be the UK's largest-ever regeneration partnership.
London mayor Boris Johnson is known to be concerned about the vague plans for the Olympic legacy made by his predecessor Ken Livingstone.
'The LDA is committed to ensuring that London gets the maximum value from the Olympic Park. We are looking at the most effective structure to deliver the regeneration benefits,' a spokesman said.
'The LDA recognises that private sector investment and development expertise will have a crucial role to play in bringing forward the aspirations for this area,' he added.
Engaging the private sector could take place at a variety of levels, from individual venues to joint ventures covering several development sites.
After the 2012 Games, the Olympic Delivery Authority will return the leased land to the LDA. Developers that are already working on the sites such as Lend Lease at the Olympic Village and Carillion and Igloo at the Media Centre, are likely to be consulted about how their developments may fit into a partnership, or they could buy out the LDA's share.
The LDA is also encouraging Londoners to get involved. This summer they can visit various venues and built their own 'mini city' by placing housing, parkland, shops and other features on a large scale map of the Olympic Park.