Multiplex is expected to survive, despite its £70m loss on the stadium and being only 70% likely to complete it in time for the FA Cup Final on 13 May.

Analysts in Australia said this week said that, although the contractor and developer was in trouble, it was not expected to go under because it was still a successful company in Australia.

This assessment contradicts claims in the UK press, which said that the Football Association was drawing up plans to deal with a worst-case scenario in which Multiplex went bankrupt.

Alastair Gillespie, analyst at UBS in Sydney, said: "This is not a make-or-break situation. Our view is that there is little risk over the financial security of the group."

Multiplex's shares rose 3.5% to AUS$3.27 (139p) on Tuesday after it warned that Wembley might not be ready for the final. The group is expected to post interim results on 23 February.