Financial company revealed as Headingley South Stand backers

The redevelopment has begun to take shape at Headingley
The redevelopment has begun to take shape at Headingley
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Financial services giant Legal & General has confirmed it is funding the multi-million pound redevelopment of Leeds' Headingley Stadium.

The agreement was announced in March, but the identity of the company involved has only now been confirmed.

How the new stand will look on the cricket pitch side of the ground at Headingley

How the new stand will look on the cricket pitch side of the ground at Headingley

The insurance and investment management group’s involvement will take its total investment in the city to more than £600 million.

The £35-40 million project includes a new main stand, shared by both Leeds Rhinos and Yorkshire County Cricket Club and the rebuilding of the rugby side’s famous South Stand.

The property will be let to Leeds City Council on a 42-year lease and under-let to the rugby and cricket and clubs jointly.

Rhinos chief executive Gary Hetherington said: “For a number of years, we have been working closely with Leeds City Council and partners to find a solution to ensure international sport continues at Headingley and we appreciate all the effort and commitment put in by Leeds City Council to broker this deal.

“These are exciting times on and off the field for Leeds Rhinos with the re-development work well underway now and our team becoming champions once again for a record eighth time.

“We look forward to a bright future and continuing to proudly represent our great city at our iconic home for generations to come.”

Mark Arthur, Yorkshire’s chief executive, added: “The redevelopment began in earnest just last week and our ambitious plans to redevelop the North-South Stand can now be realised.

“The club is striving to become one of the top-four Test grounds in the country and, with a new stand in place, we can look forward to engaging with more communities and people from across the county and beyond.”

The project is expected to create local jobs during the reconstruction and in the longer-term and generate additional expenditure of more than £107 million by 2023.

Leeds City Council leader councillor Judith Blake said: “Legal & General are playing a key role in ensuring that not only will Headingley be a modern and first-class venue, but also that the significant economic benefits that are brought to Leeds and the wider region through the hosting of top-class matches will continue.”