The Museum of Science and Industry (Mosi), Manchester's most popular tourist attraction, faces closure in order to keep London's Science Museum open, according to the national Science Museum Group.
The National Media Museum in Bradford and the National Railway Museum in York, which along with Mosi are part of the national Science Museum Group, may also be closed down because of funding cuts.
Emergency talks are taking place between town hall bosses in Manchester, Bradford and York to try and resolve the crisis.
The group said: "The Science Museum Group has to address a large projected operating deficit from 2014 onwards and is assessing a range of options to address this situation.
"Despite making significant cost reductions we are still faced with a significant annual deficit next year and beyond because of cuts in Grant in Aid. The Group's finances are expected to come under even greater pressure following the Spending Review on 26 June 2013.
"We have already undertaken a range of cost saving initiatives since the government cuts announced in October 2010, and we will look at further efficiencies to ensure that we continue to care for our collections and maintain our role in inspiring the next generation of scientists and engineers. Our recommendations will go to the Board of Trustees in the Autumn."
Mosi, which is free to enter, drew 830,000 visitors in 2011/12.
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