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Olympic Stadiums are expensive and large constructions. The media often report on cost overruns based on the extravagant appearance of an Olympic Stadium and the lack of its postgames utilization. The aim of this paper is to provide a conceptual stadium legacy framework consisting of four dimensions and twelve functions that an Olympic Stadium can potentially have.

These were identified by an extensive literature research and an analysis of the findings. Additionally, we collected available data on the specific Olympic Stadiums under review (1984–2016).

The utilization of Olympic Stadiums varies greatly from city to city. However, 12 functions can be observed as being valid for Olympic Stadiums. The dimensions with its functions are interpreted by the positive/negative values which Olympic Stadiums can have for particular stakeholders. The benefits can be local, regional, national or international. The framework also delivers interconnections of the functions and shows how they interlock and how they can potentially boost the benefits.

Future bid cities that consider constructing a large stadium can plan their stadium legacy by developing business cases based on the 12 functions developed in this paper. This offers a direct link to marketing, as iconic stadiums and urban development support city marketing.

To date, the complexity of functions and their interconnections, as well as their potential values, have not been examined. Thus, many (media) critiques oversee the benefits an Olympic Stadium can have besides its proper sport utilization.

Intangible legacy encapsulates the essence of Olympism and its manifestation, the Olympic Games. Despite significant interest in the capacity of the Olympics to produce notable changes in society, conceptual difficulties in defining and measuring intangible legacy persist. The study develops a conceptual definition of intangible Olympic legacy.

The study follows a four-step concept definition approach. It examines and integrates three strands of literature including intangibles, social interactions and public value, which is combined with insights from a longitudinal empirical investigation of intangible Olympic legacy for National Sport Organisations (NSO).

The proposed concept of intangible legacy defines it an emerging combination of attributes, interactions, processes and technology, with the goal of creating public value which is the ultimate goal of the Olympic Games. Since intangible legacy is qualitative rather than quantitative, a reconsideration of the current research paradigm is also proposed.

The study develops a new analytical device for the investigation of intangible legacies for specific publics such as NSO.

The study carries practical implications for Olympic and events/festival promoters as it allows defining and operationalising the key attributes of the concept.

This is the first study to conceptualise intangible legacy of mega events.