A controversial £40 million loan to help finance West Ham Football Club's move to the Olympic Stadium has been approved.

The loan from Newham Council will hand the Premier League strugglers the £150-180 million it needs to go head-to-head with Tottenham Hotspur in a bid to occupy the site in Stratford after the 2012 Games.

The two clubs, which have already submitted detailed plans to the Olympic Park Legacy Committee, will provide final details of their plans today (January 21).

A recent BBC investigation has raised a number of concerns about the council’s decision to agree the loan.

There are claims that there was a lack of transparency, as councillors were not given vital detail about the deal until an hour before the vote.

It remains unclear whether the authority will be liable for the loan if relegation-threatened West Ham default on payments.

Newham Council says it is unable to disclose aspects of the deal due to a commercial agreement with the Olympic Park Legacy Company.

The impartiality of Mayor of Newham, Sir Robin Wales has also been questioned after he declared dozens of gifts from West Ham in 2008 and 2009.

The elected mayor was not entitled to vote on the issue, but is said to hold tight control over councillors, all 60 of whom are Labour members.

Newham Council insist Sir Robin has been open about the gifts and has nothing to hide.

Tottenham's bid has come under fire because of the club’s plans to knock down the current venue and build a new stadium which does not include an athletics track.

This is said to break promises made by the London bid team to ensure an athletics legacy post 2012.

West Ham’s plans would see the running track remain.

Head of World Athletics, Lamine Diack, said London 2012 bosses would have told a “big lie” if the stadium is converted solely for football.

In an interview with the BBC, he also suggested Britain’s chances of hosting future events would be compromised if the athletics track was removed.

The OPLC will announce its decision by January 28.