Wembley Stadium will be rebuilt as the new British national stadium, The Observerreported today.
Culture, Media and Sport Secretary Tessa Jowell would confirm the £700 million sterling deal in parliament on December 17th the report said.
"In a decision that ends years of chaotic wrangling, the Football Association and the government have finally decided to replace the London landmark with a new national stadium to host major football matches."
A three-year project to rebuild the stadium and form the basis for bids for the 2006 World Cup and the 2012 Olympic Games, has been a passage of mishaps and blunders.
The proposed new stadium was first ruled out as a track and field venue, then banks refused to lend money for its refurbishment.
In another blow to Britain's international reputation, the government decided this year not to go ahead with a second stadium at Picketts Lock, which had been awarded the 2005 world athletics championships. Bidding for the championships has been reopened.
