A pared-down version of the £660m National Stadium at Wembley looked likely to go ahead this week after two companies offered to underwrite the project.
Australian contractor Multiplex has offered to bankroll the scheme by borrowing £350m against its order book.

Sports marketing agency IMG has also agreed to underwrite the cost of the premium corporate hospitality seats for 10 years at a cost of £30m.

Culture minister Tessa Jowell told the House of Commons on Tuesday that the future of the Wembley project would be decided after an eight-week review.

Sport England's national lottery panel is expected to reject a £60m bid for an athletics stadium in north London because of doubts over its financial viability.

The new sports minister has indicated that an athletics track should be incorporated into a revised Wembley scheme to host the 2005 World Athletics Championships.