The Rugby Football League is to sign a memorandum of understanding with Bradford City Council and Bradford Bulls over redevelopments of Odsal.
The MOU, which is non-binding, will allow the partnership to explore possible renovations at Odsal and surrounding area with the permission of the RFL board.
The partnership group can now look at options with commercial developers to transform the stadium and surrounding site into a leisure and commercial gateway to the city centre, including ancillary retail, food and beverage and hotel accommodation.
RFL chief operating officer, Tony Sutton, said: “We are committed to the protection of our sport at the site.
“This is our primary duty as the national governing body and the reason why the RFL originally stepped in.
“The market value of the site has been monitored and reviewed during the period of RFL ownership, and notwithstanding the inherent challenges with the valuation of such a unique property, the RFL board have ensured the value of the site is sincerely reflected in the RFL’s accounts.
“The proposed redevelopment of Odsal Stadium will be contingent on the protection of professional Rugby League in Bradford – this means sustaining and developing professional rugby league in the city, and ensuring that a redevelopment delivers a stadium that meets Super League minimum standards.
“A sale of the stadium has not taken place; and the RFL has answered all enquiries about the site with the same information. The board’s position has been consistent as publicly stated at the time of the Bradford Northern administration in 2016 – a focus on sustaining and growing the sport in Bradford.”