UEFA president Lennart Johannson has warned that Portugal could lose the right to hold the 2004 European Championships if squabbles surrounding the funding of new stadiums are not solved shortly, the Publico newspaper reported on Friday.

"We cannot wait much longer, if things continue as they are we will have to take action," the European football boss said while attending a FIFA meeting in Tokyo.

"There is no shortage of countries that are interested in organizing the 2004 European Championships and we can change at any time. I hope this will not be necessary," he added.