Coe, the London 2012 chairman, currently here for the Commonwealth Games, though, is refusing to give up on the bid.

He said: “I’m not resigned to anything.

"I know that UK Athletics is working very closely with Hugh Robertson, [Culture Secretary] Jeremy Hunt and the Mayor’s department which had the Evaluation Committee from the IAAF (International Association of Athletics Federations) over in London not long ago."

Coe, the double Olympic 1500 metres gold medallist, is the vice-president of the IAAF and is pushing London's bid behind the scenes. 

He said: "You’ll hardly ever hear me say anything other than it is a very good thing to have a World Athletics Championships [in London].

"But I also recognise that under these circumstances hosting the event is not as straight forward as it was two or three years ago.

"But I’m hoping they can inch their way there and guarantee funding."

London is competing against Beijing’s majestic Bird’s Nest stadium for the right to host the prestigious Championships.

Robertson, though, appears to have put the brakes on the event coming to London by saying the Government is unlikely to underwrite the event.

He has not completely ruled out Government support, claiming no final decision will be made before he knows "how much money we have" following the comprehensive spending review on October 20.

London's previous bids for the World Championships have turned into huge embarrassments.

A bid for the 2003 event had to be withdrawn when plans to include an athletics track at the redeveloped Wembley Stadium were scrapped.

Then, after London were awarded the 2005 Championships, they had to give them back following the failure ofTony Blair's Government to keep its promise to the IAAF to build a new stadium at Pickett's Lock to host them.

The event was switched to Helsinki and the fall-out from the row nearly scuppered London's bid to host the 2012 Olympics and Paralympics before it had even been officially launched.

The IAAF are due to vote on who hosts the Championships at a meeting of its ruling Council in Monte Carlo from November 19-20.

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