Following yesterday's decision by the government to strip Legacy of its preferred bidder status, the Dome sale has now opened up with the rumour mill in full swing on the frontrunners to buy the property.

The government says it has had 72 expressions of interest for the Dome and press speculation points to PY Gerbeau as a frontrunner to make a bid to turn the site into a 50,000-seater entertainment venue with his partner, Ministry of Sound boss James Palumbo. Other leading figures in the race for the attraction include The Duke of Westminster, who was linked to the Legacy consortium last week and is now rumoured to have contacted the BBC, the Tussauds group and Harvey Goldsmith to possibly turn the Dome into a public attraction through his Grosvenor Estates company.

Additionally, Nomura's Principal Finance Group, led by Guy Hands, is said to be interested despite withdrawing from a deal last September and has been linked to Gerbeau's potential bid, although Nomura has declined to comment. Robert Bourne's Legacy is still in the running to buy the Dome, although the Labour donor is reported to be 'stunned' at the government's decision to remove its preferred bidder status.