The prize is the construction of a new indoor arena and working up bids for the project are Laing O'Rourke, Sir Robert McAlpine and BAM Construction.
The identity of the fourth bidder is uncertain at present, but insiders are putting their money on Balfour Beatty to complete the line-up.
Leeds City Council is due to choose its preferred bidder next month, with work on site likely to kick off in November 2010.
The project is expected to be completed in 2012.
The scheme will be let under the two-stage tender design and build route.
The council plans to select a reserve bidder for the second stage of the contest, which will run fron January to September 2010.ADVERTISEMENT
The five-storey Brunswick Building, formerly owned by Leeds Metropolitan University, is being pulled down to make way for the arena, which will be built on the 2.06 ha site at Clay Pit Lane in Leeds city centre
The new arena will have a total of 12,500 fixed seats and be capable of holding a wide range of events.
Retail outlets and executive boxes will also feature in the scheme, which will span 16,000m2.
The hope is that the new arena will attract around a million visitors a year and will contribute around ВЈ28,000 per annum to the local economy.
The council's own design team will work up the scheme to RIBA Stage D and then the appointed contractor's design team will take over the responsibility from that point onwards.
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