Rotherham United Football Club has secured a £5m loan from Rotherham Metropolitan Borough Council towards the £17.3m needed for its new community stadium.
The 12,000 seater stadium, set to open for the 2012/13 season, is part of a wider regeneration of Rotherham with facilities planned for business and schools in addition to use by the npower League Two side on matchdays.
Rotherham United chairman Tony Stewart told the club’s official site: "From day one of my tenure at Rotherham United Football Club, Rotherham Metropolitan Borough Council have been as determined as I to make this happen, not just for the football club but for our town.
"By continuing to work as a team, in partnership, we've managed to overcome all the trip wires and hurdles throughout the long journey that this project has presented and now we can all look forward to witnessing the stadium being constructed."
Councillor Roger Stone, leader of Rotherham Metropolitan Borough Council, added: "The terms of the agreement mean that there will be no cost to Rotherham's council taxpayers, but our residents, schools, businesses and voluntary and community groups will reap the benefits for years to come - by using the facilities or by the stadium generating more town centre visitors on matchdays."
The project has yet to start at the new site although the club said work is expected to start soon.