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Hampshire Cricket's Rose Bowl development is back on track after the local council pledged £30 million to the project.
The plans will see a state-of-the-art hotel and conference centre built in the region, which follow doubts as to whether the plans would go ahead caused by a lack of funding, reported the Southern Daily Echo.
It is hoped the new venue, which will also include a cricket stadium, will be completed in time for England's first test match against Sri Lanka in 2011.
Keith House, the council's leader, told the newspaper: "The Rose Bowl is a tremendous asset to the county and the council wanted to do all it could to make sure these exciting plans become a reality."
It will mean the local authority will own the new hotel and conference centre, which will have 175 bedrooms.
The first stage of development began at the Rose Bowl earlier this year which involved the relocation of 88 trees.