Political and business leaders in Sheffield City Region say they will meet - at the last minute - a deadline set by Chancellor George Osborne to apply for a ‘metro mayor’ by the end of today, Friday September 4.
But they insist they will only accept one if they get the powers and funding they need to ‘stay at the head of the pack nationally’.
The government has made clear the region must accept an elected mayor if it wants further devolution.
Sir Stephen Houghton, chairman of Sheffield City Region Combined Authority, said: “Following conversations we’ve been having locally and with government, we will submit an initial deal proposal on September 4, which will form a strong basis for negotiations.
“We’re looking for a significant deal with government which will bring the best possible benefits for local residents and businesses. For local leaders to reach a deal with government, the size of the prize will have to be great enough to satisfy the huge ambitions of our local partners and local business community.”
The Combined Authority forms part of the Local Enterprise Partnership which is submitting the plans.