The future of the Crystal Palace Stadium is looking bleak after it lost its flagship event.

The London Diamond League meeting, which was a guaranteed sell out for the South London venue, has been relocated to the Olympic Stadium in Stratford.

It is understood Crystal Palace will hold the venue again in 2014, before losing the event for good from 2015.

It leaves a question mark over the future of the stadium, which was a potential target for Crystal Palace FC but interest has dwindled due to the length of time it would take to get planning permission.

The athletics event will take place on July 27, marking the anniversary of the 2012 opening ceremony.

Those who have bought tickets for the event at Crystal Palace will receive a refund and will be given priority on tickets when they are released for the Olympic Stadium.