Nottinghamshire County Council have announced plans for £6.7 million of investment in the National Watersports Centre in Nottingham.
The council which runs the facility where Olympic gold medallists Tim Baillie and Etienne Stott trained before London 2012, has also named Serco Leisure as the preferred bidder to manage the centre at Holme Pierrepont.
The county council say it has had issues over the last four years since Sport England relinquished the lease in 2009. The centre is currently running at £1 million loss per year which is why Serco Leisure has been brought in to manage it.
The council will be contributing £1.6 million to the investment with the remainder coming from other sources including Serco Leisure.
Planned improvements include updates to the main building and gym facilities.