The City Council has agreed to grant Nottingham Forest a new 250-year lease to enable to the club to redevelop the City Ground.
Forest announced in February its plans to build a new Peter Taylor Stand, plus make improvements to the Trentside area, Brian Clough and Bridgford stands.
The City Council leases the land that the stadium sits on to the club and has been negotiating new terms to facilitate the redevelopment.
The current 50-year lease will now be replaced by a much longer 250-year agreement, which will also see Forest increase the size of their leased area to include the land on Trentside North, behind the Trent End, from Trent Bridge on one side up to Trent Lock, close to Lady Bay Bridge.
As part of the new terms, the club will take on responsibility for the boat houses at either end of the site boundary. These had previously been tenants of the City Council and will see new facilities built as part of the project.
Approval was granted this afternoon (Tuesday) at a meeting of the City Council’s Executive Board.
Councillor David Mellen, Leader of Nottingham City Council, said: “We share Nottingham Forest’s ambition for their redeveloped ground and have been pleased to work with them on the project. We understand what a huge difference it will make to Nottingham to have such a top-level sporting venue.
“We’re lucky that we have a proud sporting heritage in the city. Nottingham already boasts a world-class cricket ground, an elite-level ice hockey team and international-quality tennis facilities. This redevelopment of The City Ground will cement the reputation as a renowned sporting venue.
“It also forms part of the wider Nottingham Southside regeneration with £2 billion of developments across a 0.5 square mile area.
“This includes the redevelopment of intu Broadmarsh, rebuilding the Broadmarsh car park and creating a new Central Library, transforming Nottingham Castle, the new Nottingham College City Hub and a pedestrian-friendly environment for the area, as well as the Island Site development, new Grade-A office spaces and opportunities for further housing and residential developments.
“These exciting changes represent a new era for Nottingham, bringing thousands more jobs, millions more visitors and economic growth for the benefit of the entire city.”
Nottingham Forest revealed their development plans earlier in the year. The new Peter Taylor Stand will see the introduction of world-class facilities including a museum, a new club shop, range of hospitality lounge options and restaurants and executive boxes. There will be spacious concourses for general-admission supporters as well as improved facilities for supporters with disabilities and a substantial increase in wheelchair spaces.
The City Ground last underwent major development work in 1994 when the Trent End stand was turned from the iconic terrace into a modern, all-seater stand.
Nottingham Forest Chairman, Nicholas Randall QC, said: “The club would like to thank all those connected in helping secure our long-term future at The City Ground.
“When we announced our plans for the redevelopment of the stadium, we recognised the importance to remain at our iconic home. We understand what it means not only to our supporters but also for the people of the City and we are now delighted to have secured our lease for a further 250 years.
“We have been speaking to representatives of key groups involved in the redevelopment planning and will continue to do so to ensure the stadium is a place we all feel proud of.”