The famous Museum Stand at the Basin reserve could be demolished and the Wellington City Council have put aside $50,000 to do it.

The stand, built in 1926, has been closed since March and wasn't used during the test with South Africa because it was deemed an earthquake risk. There are cracks in the concrete and the roof is in need of major repairs.

Wellington City Councillor, Basin Reserve Trust member and former New Zealand cricketer John Morrison told Radio New Zealand he wanted the stand to be preserved but realises costs could be prohibitive - estimates have put the cost at $8-$10 million.

New Zealand Cricket have urged decisions to be made quickly. They want the stand operational for next year's England tour - the second test will be played at the Basin reserve - and are mindful a solution needs to be found before 2015 when New Zealand and Australia host the Cricket World Cup.

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The stand can hold 900 people.

The council will know in the next few months, following final engineering reports, if the stand is worth saving.