The redevelopment of Headingley Carnegie Stadium can push forward after new funding was found from a private financial services company.
Plans for the major redevelopment of Headingley in Leeds were approved earlier this year by Leeds City Council planners.
The funding means that the revamp can now go ahead subject to final approval by Leeds City Council’s executive board.
The £39 million plans include the demolition of the old stands, a new south stand on the rugby ground and a new joint stand overlooking both the rugby pitch and cricket ground. The stadium hosts cricket, rugby league and rugby union.
Councillor Judith Blake Leader of Leeds City Council, said:
I’m delighted we’ve found a solution that will ensure Headingley continues to enjoy full international sporting status. Subject to the final approval of the Council’s Executive Board, this will deliver the funding to redevelop the stadium in full. The money will be provided by a private financial services company at no cost to the council tax payer, which offers the best and most viable option moving forward.
Gary Hetherington, chief executive of Leeds Rhinos, said:
We have been working closely with Leeds City Council and partners to find a solution to ensure international sport continues at Headingley Carnegie for many years to come and we appreciate all the effort and commitment put in by Leeds City Council to broker this deal.
There is still much to do but recent developments are very encouraging and could provide the funding mechanism to complete the redevelopment work.
Mark Arthur, Yorkshire County Cricket Club chief executive, said:
We would like to thank Councillor Judith Blake and Leeds City Council for their support in reaching this point. There is still a way to go, however, it is a significant step in securing the future of international cricket at Headingley.
Yorkshire County Cricket Club will continue to work hard to ensure that all remaining funds are in place to ensure that the redevelopment is completed in time for the Cricket World Cup in 2019.