Greenwich Council wants to spend £1.8million on an event for tall ships.
Plans to hold the Tall Ships Festival in 2017, and will be decided on at a council meeting on Wednesday, July 22.
Council officers have produced a document which contains costed plans for the event, which suggests an initial outlay of around than £2.1m from the council, with more than £300,000 to be made back in income from the event.
In 2014, Greenwich held the first major tall ships race for 25 years. The five-day event attracted more than 1.1 million visitors to the borough.