Grimsby Town football Club has secured the backing of property developer Extreme Leisure in its quest to build a new 14,000-capacity stadium.

As well as the stadium, the partnership will see Extreme Leisure develop an ice rink arena, additional sports and leisure facilities, retail stores, and food and beverage outlets in the Peaks Parkway area of the town.

The expected cost of the project is likely to be in excess of £55m (US$73.4m, €65.3m), although Extreme Leisure has “secured full funding” which includes expressions of interest and pre-let agreements for 50 per cent of the development.

It has been estimated that the facility will open up 320 jobs, excluding construction, when complete.

Both the club and the organisation are progressing with the project’s viability assessment ahead of applying for pre-application planning. There will also be further consultations with interested parties.

John Fenty, Grimsby Town director, said the development would “ensure that Grimsby Town Football Club remains at the heart of the community for future generations”.

“We are very pleased to have teamed up with Extreme who have an outstanding track record of delivering excellence in the leisure industry,” he added. “They say that good things come to those who wait, and we’ve waited so we are looking forward to the day when the ground is broken.”

Extreme Leisure founder and chair Alistair Gosling said the project is expected to “provide inbound investment, local employment and better facilities” for local residents and visitors.

Grimsby Town were promoted back into the Football League last season after spending six years as a non-league club.