BBC SPORT | Special Events | 2001 | Search for a New Wembley

The Football Association has told the government that it is on course to start rebuilding Wembley Stadium.

English football's governing body says it has the funding in place for the proposed �715m project to rebuild the national stadium.

The FA has told Tessa Jowell, Secretary of State for Culture, Media and Sport, that the five tests she set for the project "have been substantially met".
One of Wembley's twin towers
The famous twin towers will be demolished

It is thought that the new 90,000 all-seater stadium will be largely funded by German finance company Westdeutsche Landesbank.

The bank has submitted a �400m package after emerging as the sole bidder for the project after British bank Barclays withdrew.

An FA statement read: "We have advised her that progress has been made on all fronts and that all of the tests have been substantially met.

"We are now entering the last phase of the project, prior to the commencement of construction, with the full support of all our stakeholders and business partners.

"A new board and a strong management team are ready to take the project through to a satisfactory conclusion.

"We understand that the Secretary of State will be making an announcement to the House of Commons during next week with regards to the future agenda.

"In the present circumstances, The FA will not be making any further public comment."

The government will make a full statement about the new Wembley in Parliament on Tuesday.

The rebuilt stadium is expected to have the capacity for a platform to be installed with a running track for athletics.

That means the FA will not have to return �20m Lottery cash awarded to the project on behalf of athletics.

Culture Secretary Tessa Jowell
Tessa Jowell's demands will be met
The Greater London Authority (GLA) has also given the go-ahead to contribute �21m towards the cost.

"Football is ready and waiting for the new Wembley," said London mayor Ken Livingstone.

The conditions laid out by the government are:

that the FA secures financing of the project
that the FA show the construction deal with builders Multiplex represents value for money
that Wembley National Stadium Limited provide a report by corporate trouble-shooter David James into the Multiplex agreement to the National Audit Office. James had been critical of some of the details of awarding of the construction contract
that WNSL bring in changes in corporate governance, i.e. make some changes to the way it is run