Eastleigh Borough Council has now officially bought the Rose Bowl site in West End - home to Hampshire County Cricket ground.
They plan to develop the site with a hotel, spa, golf course and leisure complex in a project costing £48 million pounds.
The former Rose Bowl company had run into financial difficulties which had threatened its future.
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Ex-football manager Harry Redknapp told undercover reporters his own players bet on the result of one of their own matches, it is claimed.