Warwickshire County Cricket Club is expected to be granted a further six repayment holidays on the £20 million loan it received from Birmingham City Council three years ago.
The club borrowed the cash for the redevelopment of the Pavilion End and installation of floodlights - needed to cement the Edgbaston ground’s status as a test and international cricket venue.
But the failure to secure a money-spinning Ashes Test this summer have already seen the club take the two payment breaks in March and June this year. The club owes the city council £1.35 million a year over 30 years on the loan.
Today (July 15) Birmingham City Council meets to approve a further six repayment holidays, which will push back the loan 18 months.
The Labour run Cabinet will also give its finance director the power to negotiate the repayment schedule with the club from now on.
A report to the Cabinet says that the holidays will push the repayment schedule back 18 months.
But it adds that WCCC plays a major in the role in the city and its profile around the world.
It said: “International cricket secures a wide television exposure, with audiences spread across five continents.
"This promotes Birmingham’s profile, both through its involvement in international sport and through the background reporting on the host city that accompanies media coverage of such events.
“Arrangements between Marketing Birmingham and WCCC will ensure that ‘Birmingham’ is promoted around the ground. WCCC has a wide ranging programme of community and school support and also contributes towards developing an inclusive economy.”
Earlier this year the city council rejected a proposal to sponsor the Edgbaston Stadium and Warwickshire's T20 team as an in kind deal on the loan repayment.
A WCCC spokesman said the new repayment arrangement would "better reflect the cyclical nature of the club’s Major Match allocations which is the primary driver of profitability and cash flow generation".
The statement continued: "The club will continue to promote the city around the stadium and engage with our diverse local population through our wide ranging community programme."
The ICC Champions Trophy was staged at Edgbaston in June with 105,000 people attending the five matches staged which included the England v India final, plus the India vs Pakistan group match.
The cricket club said that the tournament showcased Edgbaston and Birmingham to an estimated global TV audience of 1 billion in 220 countries and generated more than £15 million to the local economy.
Edgbaston has recently been awarded an additional England v India International T20 match in 2014 and has already been allocated an Ashes Test when England play Australia in 2015.
Warwickshire will be bidding for the next round of Major Match allocations for 2017-19 which includes the Cricket World Cup and an Ashes series in 2019, a South Africa series and ICC Test World Championship in 2017 plus India and Pakistan series in 2018."