The politician said that it was more likely that Cardiff Millennium Stadium would host the match, and that interference from non-architects had caused the problem.
The speculation comes after contractor Multiplex issued a statement saying that there was 'material risk' of not meeting deadlines for the stadium to be ready for the big match.
'It I was booking a train ticket now I would most probably get one out to Wales rather than up to Wembley,' Livingstone said.
'This is exactly the kind of fiasco, the whole of the Wembley saga, which has informed the way we have planned our Olympic bid and the way we are going to construct the sites there.
'This went wrong from the beginning and because people who weren't architects and builders kept interfering and changing design, the costs kept mounting.'
The mayor went on to say that once the layout for the Olympic sites had been decided there would be no going back. He continued to state that projects went 'horrendously wrong' when people made changes halfway through.