Badminton officials will see the Wembley Arena proposals next week
London 2012 chiefs have agreed to stage badminton and rhythmic gymnastics at Wembley Arena instead of building a temporary venue for the Olympics.
The Olympic Board decision follows months of uncertainty over the venues for some sports and could save £20m.
But the agreement is subject to approval from both badminton and gymnastics officials in the next week.
It was also confirmed that shooting will be based at the Royal Artillery Barracks in Woolwich.
Officials from gymnastics will be shown the proposals this week and badminton chiefs will see them next week.
A statement from the board said: "The Olympic Board has agreed the proposal to use existing facilities at Wembley Arena to host two sports rather than build a temporary venue on the North Greenwich Peninsula."
However, British Olympic chief Lord Moynihan has warned that both sports will demand guarantees over Olympic lanes if they are to be persuaded to be based at Wembley Arena.
Moynihan said the sports would need guarantees that special lanes reserved for Olympic traffic from the Olympic Park in east London would be in place to speed journeys to Wembley, after boxing rejected the same move.
A decision on where exactly the lanes would run in the city has yet to be taken.
"It's very different to boxing where athletes would have had to travel in the morning for a weigh-in and then again in the evening for the fights - it would have meant four hours a day travelling," said Moynihan.
"The journey can be done in an hour with Olympic lanes - and these lanes are clearly an issue.
"The sports will want some guarantees on travel times and that's why we strongly welcome that this proposal must be subject to the international federations' approval."
Barking had also been lined up as a possible alternative venue for the two sports as well as a back-up venue for shooting.
Now it has been left without any sports, and the board will try to compensate by recommending the borough of Barking "as a suitable location for training venues and other operations in 2012".
If the federations give the thumbs-up to the Wembley plan, this will be presented to the IOC co-ordination commission in November, and to the IOC executive board for approval in December.