The Football Association have put forward Wembley to UEFA as the venue for the Euro 2020 final.
UEFA president Michel Platini is considering a change to the format of the tournament so that it would be played in cities across Europe rather than just one or two countries.
It is understood FA chairman David Bernstein met Platini last week and registered the association's interest in Wembley holding the final of the European Championships.
If successful, it could also mean one or both Euro 2020 semi-finals also being held in London - Platini's idea is that one city should host the climax of the tournament.
Wembley's chances are linked to Turkey's bid for Euro 2020 - if Istanbul wins the right to host the Olympics in that year then UEFA will not countenance Turkey hosting the Euros.
In that case, Platini's revolutionary new format would be much more likely to take place, and UEFA's liking for Wembley - it was a record-breaking venue in terms of finances for the Champions League final last year and will be so again in 2013 - would give London a real chance of being selected for the final.
The FA do not want to be dragged into an expensive bidding campaign however, such was the costly failure of the 2018 World Cup bid.
The success of the Champions League final at Wembley in 2011 contributed to record turnover of £329million for the FA last year - up 8% - and a profit after tax of £40m, up from £9m in 2010.
The Champions League final in 2011 brought in more than £11m for the FA. The FA have also agreed a fixed rental price for UEFA for next season's final, which coincides with the FA's 150th anniversary, so they will earn a fixed sum whatever the ticket prices and sales.
Bernstein's discussions with Platini also covered the future of Britain's FIFA vice-presidency.
Platini has suggested keeping the position, which is under threat due to FIFA's modernisation and reform programme, but all 53 UEFA countries vote for candidates nominated by the four home nations.
The FA are thought to be ambivalent about that idea, and are willing to see the vice-presidency abolished if it maintains their place on the game's law-making body the International FA Board (IFAB).
Meanwhile, the FA have not given up hope of having goal-line technology systems in place for the semi-finals and final of the FA Cup this season, and have agreed to tender for a system jointly with the Premier League.