The Millennium Dome exhibition complex, a giant "flying saucer" built on the banks of the Thames in London's suburbs towards the end of the millennium, is facing demolition before the end of this year. Such an unfortunate future for the building, which was a source of pride for Londoners, was seriously discussed after negotiations on the sale of the building for 105 million pounds sterling to the Japanese bank Namura ended in failure.

Now the British company that owns the land on which the Dome stands says it could demolish it before the end of the year and find a better use for the land.

But the British government does not want the colossal structure, designed by the famous architect Sir Norman Foster and which has already become famous, to be destroyed. The country's authorities have resumed negotiations with Legacy, a company previously rejected (for the sake of a Japanese investor), proposing to turn Dome into a high-tech business center.

The British government's "Millennium Commission" will meet on Wednesday to discuss the future of the Dome.

Last month the commission handed over £43 million to the building's owner, the New Millennium Experience Company, as an advance on the expected sale.

A further payment of £47 million was announced last week to cover the costs of closing the complex and handing it over to a Japanese bank that wanted to build an amusement park there. However, the deal did not take place: the Japanese investor stated that he was not provided with all the details of the financing scheme for the complex.

So now the New Millennium Experience has only received £13 million from the commission and commissioners will be wondering on Wednesday what more can be done.

However, Dome executive director David James says that the complex will not close until the end of the year in any case: it is more expensive to close it than to operate it.

London's Millennium Dome will be demolished