
City council chiefs have admitted they cannot afford to pay for the start of a long-awaited refurbishment until 2010 at the earliest.
However, it is expected to be up to another three years after that date before the revamp begins.
Work on the historic venue is expected to include replacing poor electrical and lighting systems, inadequate toilets and cramped seating.
Other improvements identified as necessary to bring the Tollcross theatre up to a "21st century standard" included creating a new entrance, box office and public bars, as well as installing lifts.
The revamp, estimated at £14 million in 2002, was planned to be finished ahead of the theatre's 100th anniversary in 2006.
However, a failed bid to the Scottish Arts Council for millions of pounds worth of backing, left the council and the Festival City Theatres Trust, which runs the venue on behalf of the local authority, back at square one.
John Stalker, the FCTT chief executive, said today:
"If there's no significant work taken on the building in the next couple of years it will have to close.
"The council could find the money if it wanted to. It could allocate it in the budget for 2010, but use it now to get things moving."
The council has been accused of prioritising a long-awaited overhaul of the Assembly Rooms, on George Street, at the expense of the future of the King's.
Consultants brought in several months ago to produce a new survey of what is needed for the King's have estimated that a full-scale revamp will cost £19.7m. Simply carrying out enough work to keep the King's in proper "working order" for the foreseeable future would cost at £5.3m.
Now the FCTT is pressing the council to produce plans for the full project, amid fears that they will be left with a sub-standard venue.
In a report for the council's culture and leisure committee, arts manager Lindsay Robertson states the "earliest opportunity" for the council to find money in its budget for either option would be the 2010/11 financial year.
She added: "The 'do nothing' option could lead to the King's winding down towards closure."
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Deputy council leader Steve Cardownie, the city's festivals and events champion, said: "All our capital funding is fully committed at the moment. If we to try to find money for the King's now, we'd have to delay another project.
"However, we'll have to have a look at what does need to be spent to keep the theatre operational to meet health and safety obligations, as that it obviously of the upmost importance."
Equus rides to the Capital
THE brother of pop sensation Lily Allen is to take the place of Harry Potter actor Daniel Radcliffe in a provocative play to be staged in the Capital.
The young actor will star in a UK tour of Equus, which is coming to the King's Theatre in February. He will be playing the role of disturbed youth Alan Strang, who undergoes analysis after blinding six horses.
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