A sod cutting ceremony is due to be held on Friday to mark the start of work on the redevelopment of Sixfields Stadium.
The joint venture between The County Group, Northampton Town Football Club and Northampton Borough Council will result in the creation of new houses, shops and a 100-bedroom hotel in a 33 acre area of Sixfields.
Simon Patnick, chief operating Officer of County Group said: “It’s clear that the coming together of these three groups has led to a bright and prosperous future for Sixfields and its local area.
“it will not only provide future jobs, wealth and value to the area.
“But it will also give Northampton Town Football Club the ability to be self-financing and having the opportunity to generate increased levels of income to help the club move up the football ladder and become a 24/7 and 365 days-a-year business.”
Councillor David Mackintosh, leader of Northampton Borough Council said: “Increasingly success in professional sports is as much about what happens off the pitch as on it and the expansion of Sixfields Stadium and the surrounding area will help to regenerate the west of Northampton and develop the club.
“We are committed to supporting the Cobblers, and helping the club to take full advantage of the business opportunities of being located in our Enterprise Zone.”
David Cardoza, chairman of Northampton Town added, “We are so grateful to David Mackintosh and Northampton Borough Council for their support, without which we wouldn’t be in this position. They have been fantastic in helping to deliver a facility of which the town will be truly proud.”