A separate plan was also rubber-stamped by the council to pay for a £30m hotel at the ground, funds for which would be transferred on completion of the hotel complex.
Critics have labelled spending council cash on the venture as “reckless and far too risky”, after a council report revealed the perilous state of finances at the parent firm.
Opposition to the hotel also came to a head in 2010 when rival hoteliers launched a legal challenge against the proposals.
But the leader of Eastleigh Borough Council, Cllr Keith House , said this
week: “This is a very important project for the whole borough. As well as creating jobs for local people and opportunities for local business , it gives the council significant new rental income to protect vital local services.
“We are committed to making sure that our residents benefit from the partnership, through the chance to watch and take part in sport. The prestigious world class venue will also help to keep
Eastleigh on the sporting map.”
James McNeil, a partner at Paris Smith who has acted on behalf of The Ageas Bowl, added: “This crucial deal has taken over three years to come to fruition and has involved numerous parties and
their advisers who have all acted together in a commercial and pragmatic way in order to preserve The Ageas Bowl's ability to hold International Test Matches and to ensure that the venue and
Hampshire Cricket now go from strength to strength.”
Work to start on luxury hotel at Ageas Bowl in West End
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