Millennium funding doubts to be quashed

Doubts about the funding of Greenwich’s 500m millennium exhibition designed by Imagination are about to be quashed, as a source close to the project says that key cash is waiting in the wings.

“A major British international company has firmly expressed an interest in coming up with the key funding,” says Graham Buxton-Smither, a former evaluator for the exhibition.

“I suspect that this will prompt a number of other organisations to come forward. This company’s name alone will guarantee support from City institutions,” he comments.

The Millennium Commission has agreed to provide 200m if the project is financially viable. “If the financial package is not up to scratch, it won’t happen,” says a commission source.

Businessman Sir Peter Levene is expected to report to the commission at the end of this month with his assessment of the plans.

Imagination and the commission are both unable to comment on the potential sponsor. Buxton- Smither declines to name the company.