'New deal on Dome in 10 days'

MINISTERS are understood to be ready to announce an agreement to turn the Millennium Dome in east London into a 20,000-seat entertainment complex within the next 10 days. The deal with American leisure group Anschutz would see the Dome reopened by summer 2004.

Under the draft proposals, Anschutz would not pay any money up front but would commit to a £200m programme of renovation. It would also carry the risk for the project. Taxpayers would see a return only if the centre, which could include a casino, proved a success. The Treasury would be entitled to a share in the profits.

However, there are doubts as to how Anschutz would overcome the problems which proved insurmountable to previous would-be Dome buyers.