Construction work on the Velodrome began on schedule in March and there are now more than 100 workers on site. The Velodrome is being built on the site of the former West Ham tip and more than 900 piles have now been driven up to 26 metres beneath the ground to complete the foundations of the venue. Work to construct the concrete base structure of the Velodrome is also now a third of the way through and the first above-ground columns of the Velodrome structure will start to appear in late June.

The 6,000 seat Velodrome will host the Olympic and Paralympic indoor Track Cycling events in 2012. After the Games the Lee Valley Park Regional Authority (LVRPA) will own, manage and fund the VeloPark, creating a world class attraction which will be used by elite athletes and the local community. The legacy Velodrome will include a café, bike hire and cycle workshop facilities, and includes a 360 degree concourse level offering fantastic views over the Olympic Park, and out to the London skyline.

ODA Chief Executive David Higgins said: 'Completing the foundations of the Velodrome is a significant milestone and takes us a step closer to delivering a record-breaking venue for 2012 and a world-class cycling legacy for London. I look forward to seeing the striking architecture of the Velodrome continue to take shape over the coming months and begin to make its mark on the Olympic Park skyline.'

Sebastian Coe, Chair of the London Organising Committee, said: 'Britain leads the way in world cycling and deserves a world-class stage in 2012 so the laying of the Velodrome foundations is a significant milestone. Our Velodrome plans are driven by legacy and we are aiming for this to not only be a venue where records are broken and the British gold-rush continues in 2012, but a breeding-ground for new generation of cyclists of all ages and abilities.'

Shaun Dawson, Chief Executive of Lee Valley Regional Park Authority (LVRPA) which will own and operate the VeloPark in legacy, said: 'It’s thrilling for anyone involved in cycling to see the development of this beautiful building. The Lee Valley Regional Park Authority will ensure that this world class venue will be well used by a variety of target groups from beginners to elite athletes with extensive community use, outreach and sports development programmes.'

Notes to editors:

1. Images of construction work on the Velodrome site along with the latest VeloPark design images can be downloaded at: http://mm.gettyimages.com/mm/nicePath/locog?nav=pr124822156

2. The 6,000 seat Velodrome will host the London 2012 Olympic and Paralympic indoor Track Cycling events as well as a BMX circuit for Olympic events. After the Games, a road cycle circuit and mountain bike course will be added to create a legacy VeloPark that will combine cycling facilities across all disciplines in one cycling ‘hub’.

3. The construction of the VeloPark facilities includes funding from Lee Valley Regional Park Authority (LVRPA), Sport England, Transport for London (TfL), and the London Marathon Charitable Trust (LMCT).

4. The Velodrome is being constructed by ISG who were also responsible for replacing the track at the Manchester Velodrome which led to the British team securing nine gold medals at the World Cycling Championships last year.

5. The design team for the VeloPark is made up of Hopkins Architects, Expedition Engineering, BDSP and Grant Associates, who were appointed in 2007 following a design competition judged by leading names from the world of architecture and design as well as Olympic cyclist Sir Chris Hoy.

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The construction of the venues and infrastructure of the London 2012 Games is funded by the National Lottery through the Olympic Lottery Distributor, The Department for Culture, Media and Sport, the Mayor of London and the London Development Agency.

Find out the latest from London 2012 HQ on our blog.