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In February 2005 plans were announced for a £ 22 million VeloPark.
Sport England would invest £ 10. 5 million, Lee Valley Regional Park Authority £ 6 million and the Mayor of London and Transport for London would invest £ 3 million and £ 2. 5 million respectively.
The site was to be 34 hectares on the northern end of the proposed Olympic Park, next to the A12.
The park would include a velodrome seating 1, 500, which could be increased to 6, 000 if London's bid for the 2012 Olympic and Paralympic Games were successful.
The site would also have an international competition BMX circuit, a BMX freestyle park, cyclo-cross / cross-country course mountain bike course and an outdoor cycle speedway track.
The facilities would be used by internationals as well as those learning to ride.
It was estimated that the park would attract 88, 000 users a year, replacing the Eastway Cycle Circuit.
Eastway Cycle Circuit opened in 1975, it was the first purpose built road cycling venue in Britain.
The facility closed in September 2006 to make way for London's VeloPark.
The velodrome is the third covered track in Great Britain.
In September 2008 plans for the VeloPark were revealed, which were chosen with help from Chris Hoy.
However by March 2007, the VeloPark was revealed to be only a third of its original size, rescaled from 34 to 10 hectares.
The decrease in the size of the site led to users of the Eastway cycle circuit to protest to the Mayor of London.

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