UK Athletics are in advanced talks around moving the Anniversary Games away from the London Stadium this summer.
The governing body have been locked in a row over the event with the venue's owners, the London Legacy Development Corporation, who spoke out earlier this month to say they did not want to splash out £3m of tax-payer money to reconfigure the stadium for the one-day meet on July 13.
In response UKA had threatened legal action for breach of contract, but they are now close to agreeing a pay-off in excess of £1.5m to take the Diamond League event elsewhere, with Gateshead and Manchester the possible destinations.