Manchester's observation wheel could become a permanent landmark in the city, but at a new location.
The 60m-high wheel is lit by 60,000 light bulbs
Plans to move the 60m (196ft) wheel to Piccadilly Gardens or Albert Square are currently being assessed by engineers and health and safety officials.
The 42-carriage wheel, situated next to the Urbis museum, offers a bird's eye view of Manchester and the region.
World Tourist Attractions, the company behind the wheel, has previously said it wants to keep it in the city.
Councillor Pat Karney, of Manchester City Council, said: "We are talking to the wheel operators and looking at both Piccadilly Gardens and Albert Square.
"The wheel can't go on the grass in Piccadilly Gardens, but if it will fit into the other space available there then that's where it is likely to be placed.
"The council and the company who operate the wheel are looking at this at the moment and we are doing our best to keep it in Manchester over the summer."
The councillor said the company favoured Piccadilly Gardens as the new location.
The wheel, lit by 60,000 light bulbs, offers views for miles with commentary on the sights in the capsules.
There is one luxury capsule with a plasma screen TV and DVD, leather interior, glass floor, heating and air conditioning
A decision is expected within the next 10 days.