By Gordon Farquhar BBC Five Live sports news correspondent in New York

New York's bid depends on acquiring the Hudson Yards site

New York's bid team know that unless they resolve the uncertainty over their stadium project before July's vote, the city is unlikely to host the 2012 Games.

Questions about the redevelopment of the site began almost every media conference with the bid representatives during the visit of the IOC's evaluation commission, which ended on Thursday.

The site is a railway siding that sits in a prime location to the West Side of Manhattan in an area ripe for redevelopment, with the river to one side, and a major convention centre to the other.

It is an obvious hole in the city's landscape, and an equally glaring gap in the New York bid's credibility.

To cut a long story short, the Metropolitan Transit Authority owns the site, and is prepared to sell, but is insisting it has to obtain value for money for the land, as profits are re-invested in the public transport system.

New York told to finalise plans

Suddenly, a large amount of interest has been generated from third parties, including those who own the Madison Square Garden site, and have their eye on the re-development opportunity for themselves.

The problem is, can the city's bid team justify spending what might turn out to be a huge amount of public money to acquire the site?

Beneath that relatively simplistic explanation of the situation lies a whole lot of political manoeuvring and posturing, but in black and white terms, the bid team insist there's no plan B.

The city's mayor and the state's governor have given their assurances to the evaluation commission that it will be sorted out, but they must be aware that the many strengths of their bid are in danger of being eclipsed by this one, burning issue.

Without a stadium, or at least evidence one can be delivered, New York is not going to make the cut

There is no doubt the iconic sports venues and sights of New York would be a fine backdrop to an Olympic games.

There is a vibrancy about the place and a cosmopolitan feel that is constantly emphasised by the bid team.

They're right to do so, it is a great asset.

Like London, New York is proposing a substantial legacy for sport, the Olympic movement and the city should it be chosen.

Major infrastructure projects are being pushed ahead by the bid, and important environmental initiatives rest on its success.

At the heart of the bid are committed people, highly motivated by a spread of the usual things: politics, a fair slice of big business, a chunk of prestige and personal empowerment along with the genuine wish to give something to Olympism.

They are motivating factors behind all bids, and I suspect that to succeed, the winners will have to harness them all.

So, will it be New York?

View from New York New York's bid in detail

The city ticks so many boxes: a multi-cultural centre with increasing harmony, strong political support and great sports venues like Flushing Meadows, Yankee Stadium, and Madison Square Garden.

The bid is compact, well thought-out and sensible with just a bit more spice thrown in than say, Madrid, can muster.

Even leaving the stadium to one side, there's still a lot to build, and the Evaluation Commission will have to weigh the risks carefully against the guarantees given.

But the opinion among the seasoned IOC watchers is that in terms of timing and politics, the bid probably isn't a front runner, and without a stadium, or at least some evidence one can be delivered, it's not going to make the cut.