Plans to transform a derelict site close to Stratford station into a state-of-the-art entertainment venue have been submitted.

Newham Recorder: The location where the proposed MSG Sphere would be built. Picture: MSGThe location where the proposed MSG Sphere would be built. Picture: MSG (Image: MSG)

If approved by the London Legacy Development Corporation (LLDC), the MSG Sphere would create up to 3,200 jobs - plus an additional 4,300 a year during the three-year construction period.

The spherical, 90m tall venue would seat 17,500 people, with a capacity of 21,500 if there is a mixture of seating and standing.

The Madison Square Garden Company (MSG) has already purchased the 4.7 acre site, last used as a car park during London 2012, and claims the venue could generate £2.7bn for the UK economy over 20 years.

This would include more than £50m a year for businesses in Newham.

Newham Recorder: CGI of the proposed MSG Sphere. Picture: MSGCGI of the proposed MSG Sphere. Picture: MSG (Image: MSG)

Jayne McGivern, executive vice president of development and construction, said: “This is an opportunity to take an inaccessible coach park and use it to support thousands of jobs, and billions of pounds of economic benefit.

“Our plans make training and local hiring a priority and would create a premier destination that serves as a long-term investment in the future of Newham, London, and the UK.

“If our plans are approved, we believe MSG Sphere will complement London’s existing venues and drive overall growth in the music and entertainment market – benefiting residents, artists and fans.”

The MSG Sphere would have a diameter of 120m and be wrapped in triangular LED panels that could display digital art, advertising or content related to events in the venue.

Plans for the inside include the world’s largest and highest resolution LED screen, an adaptive acoustics system and a system to convey bass through the floor.

The company has also said it would try and schedule events to run at times that meant visitors could avoid travelling during peak rush hours, and would also partner with nearby venues if events coincided to work on a combined crowd management strategy.

In addition to the main arena, the plans also include a smaller nightclub venue, space for retail and food outlets and outdoor space that was accessible to all, including a nature play space for children and an outdoor gym.