British ministers were expected to meet today to consider further Legacy's plan to turn the Millennium Dome into a high-tech business city.
Irish-based Treasury Holdings hold a substantial stake in the Legacy consortium.
The meeting comes after the British government said the long-drawn-out struggle to sell the Dome should be resolved "within days".
But a decision could still come too late for former Dome boss Mr Pierre-Yves Gerbeau who is mounting a rival bid for the south London attraction.
He said yesterday he was giving the government only two days to consider his plan to keep the Dome as a visitor attraction before he turned his attention to "other business opportunities".
A spokesman for British Prime Minister Mr Tony Blair stressed although Legacy's preferred bidder status actually ran out yesterday the government was not talking to any other bidders.
The spokesman went on: "The important thing is that we get this right, that we maximise the return to the taxpayer and see the continued regeneration of the Greenwich peninsula.
"I don't think it would be unreasonable to expect the Government to set out our response to Legacy shortly. I think we are talking days."
There has been much speculation that the £125 million bid by Legacy - which is headed by British Labour Party supporter Mr Robert Bourne - will fall through.
But Legacy's hand was strengthened earlier this week by the announcement property company the Teesland Group would be taking a stake in Legacy.
PA