The All England Club is pushing forward with its plans to cover the No. 1 Court at Wimbledon.

The new, retractable roof will form part of a larger, £175m ($225m, €192m) reDevelopment project of the famous Tennis venue.

Banking group HSBC has agreed to extend an existing loan to cover the costs of the work.

The retractable roof will cost an estimated £71m ($91m, €78m) and is set to be completed in time for the 2019 Wimbledon Championship.

As well as the new roof, Court No. 1’s existing stands will be replaced by wider and more comfortable seating, with plans to add an extra 900 seats, increasing capacity from 11,500 to 12,400 spectators.

A two-level public plaza will also be built in place of Court 19, with new hospitality facilities replacing temporary ones currently in use.

Profits from debenture seat sales at the Wimbledon Championship, along with income from TV rights and sponsorship, will be used to pay back the loan.

Following the roof's completion in 2019, Wimbledon will become the second Grand Slam – alongside the Australian Open – to have two covered courts, allowing play to continue in bad weather.