Nottingham Forest have secured a new 250-year lease to enable them to redevelop the City Ground.
Nottingham City Council, which owns the land that the stadium is built on, has agreed to extend the current 50-year lease to allow the Reds to push forward with redevelopment plans they announced in February.
Forest chairman Nicholas Randall QC told the club’s website: “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.”
Forest announced plans in February to build a new Peter Taylor Stand and make improvements to the Trentside area, plus the stadium’s Brian Clough and Bridgford Stands.
The club confirmed the new agreement will also see them increase the size of their leased area surrounding the stadium.
Nottingham City Council leader, David Mellen, said the new lease forms part of the wider Nottingham Southside regeneration “with £2billion of developments across a 0.5 square mile area”.
Councillor Mellen added: “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.
“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.”