David Marks and Julia Barfield have disposed of their share of the famous London landmark, selling it to Tussauds some 12 years after spearheading the Eye's creation.
Tussauds now plans to invest some £50 million in the Eye, including creating a new 'Flying over Great Britain' ride that 'introduces visitors to the nation's cultural diversity'.
Marks said that he was selling his stake because British Airways sold its share in the attraction to Tussauds behind the architect's back last year.
He said: 'British Airways' decision to do a deal direct with Tussauds left us with some pretty stark choices.
'As in the Chinese proverb, we have decided to embrace what we cannot avoid.'
To coincide with the deal, the South Bank Centre and the London Eye company have announced the terms of a new 25-year lease, thus securing the future of the iconic structure.