A state-of-the-art sports venue providing first class facilities could replace the run-down National Sports Centre at Crystal Palace.

The creation of a new multi-million pound sports centre is just one of the proposals to be discussed during a public consultation on the future of the centre and Crystal Palace Park.

The week-long consultation will seek people's views on how they would like to see the park developed and whether the sports stadium should be modernised or a new centre built in its place.

It is being organised by the London Development Agency (LDA), which is responsible for attracting business investment to the capital.

The agency will take over the lease on the National Sports Centre in 2006 and could take over management of the park in five years' time. It was involved in the deal brokered by Mayor Ken Livingstone in February to secure the future of the sports stadium for the next two years.

Sport England invested £1.5million into upgrading the athletics track to guarantee the venue would host Friday's athletics Grand Prix.

But the sports stadium, which has fallen into a state of disrepair, will need considerable investment to bring it up to Olympic standard. The park, which celebrated its 150th anniversary this year, is also in need of financial support.

LDA chief executive Manny Lewis said: "Rejuvenating this once iconic park will help drive the regeneration of the surrounding areas.

"We want to develop first class sports facilities, boost local businesses, bring in jobs and create an excellent learning resource for local schools."

A spokesman for the LDA said the consultation was an opportunity for people to have their say on the future of the sports centre and park.

He said the go-ahead for the East London Line, which will link Crystal Palace to London on the Tube network, could help put the sports stadium on the map as a potential training base for international athletes if London's 2012 Olympic bid was successful.

The consultation runs from September 18 to 26 at a marquee in the grounds of the park. Or you can log on to www.crystalpalacepark.org.uk and register your views.