Investor approved for £35m regeneration of Headingley

The Leeds City Council executive board has backed a proposal for a third-party investor to fund redevelopment of Headingley Carnegie Stadium.

They approved a proposal which would see a third-party investor provide up to £35m towards the redevelopment. Leeds Rhinos has also pledged £5m towards the total cost of the redevelopment.

Leader of Leeds City Council Cllr Judith Blake said: “It’s vital for both the city and the region that Headingley continues to host high-class international and domestic sport. As part of this agreement, the cost of financing the development will be met by both the rugby and cricket clubs at no cost to the tax-payer.

“The impact of having elite sports men and women playing at Headingley is also in many ways bigger than the sports themselves. The power they have as role models to inspire young people in our communities cannot be underestimated and neither is the ability through their success from a personal and team perspective to instil great pride in our city.”

In 2019, the world famous Headingley Cricket Ground will be hosting matches from the 2019 World Cup, with associated economic benefits estimated at £20.5m. It is estimated that once completed the new stands are forecast to generate additional expenditure of £107.3m over the period between 2017 and 2023.