In a statement to The Press Association, West Ham said: "It is now 20 months since West Ham United were initially named as the preferred bidder to occupy the Olympic Stadium post-Games. We are obviously disappointed, that three bids later, a decision has yet to be reached.
"We do however remain fully committed to becoming the catalyst to galvanise the Olympic Park by bringing people, jobs and a robust and sustainable commercial offer that guarantees a return to the taxpayer of the money already invested."
The applications to take over the Olympic Stadium after the London Games had to be restarted last year after legal challenges from both Tottenham and neighbours Leyton Orient to West Ham's proposed tenancy. Nevertheless, the Hammers want to become main tenants at the Stratford site for the start of the 2014-15 season.
However, a report on the Guardian's website claims the Premier League club remain at loggerheads with the London Legacy Development Corporation (LLDC) over changes which would need to be made to the stadium such as retractable seating - and crucially who would fund them at a cost of around £160 million.
LLDC chief executive Dennis Hone indicated should a decision not be reached by the next board meeting later this month, then the matter could be pushed back towards the end of the year - which would potentially be of concern for meeting West Ham's transition timetable.
Other bids are under consideration, including one from Orient, a football business college as well as a group wanting to host a Formula One race at the Olympic Park.
The £486m Olympic Stadium has already been earmarked for 20 athletics meetings, which include the World Championships in 2017, and will also be available for community use, with Newham Council contributing some £40m in a loan towards the redevelopment project.
"If we can't come to a conclusion, in the scheme of things if it slips another month or two I would rather get the right solution," Hone said. "Yes, the stadium is tricky, but it's tricky because we want to get it right."
Hone added on The Guardian website: "The difficulty is that we are balancing the adaptations we have to make to the stadium against the proposals that have come in and the benefits - financial and otherwise - that those proposals bring."
- West Ham