Canterbury Cricket is assuring Christchurch City Council it can raise the funds it needs to develop Hagley Oval in time for the 2015 Cricket World Cup.
City councillors voted 11-3 on Thursday in favour of granting the lease of the oval to the organisation and providing funding of just over $1 million. It still depends on whether cricket can pay its way.
Christchurch is scheduled to host the opening match of the Cricket World Cup on 14 February 2015.
On Thursday the council committed to developing the oval and embankment while Canterbury Cricket will pay for the new pavilion and flood lights.
Council sport and recreation manager John Filsell says, however, the deal is subject to Canterbury Cricket's finance plan being signed off by the council's chief executive.
Canterbury Cricket says now that it has the lease and the resource consent, fundraising will be easier.
Mr Filsell says the ground work on the oval must start by 1 December at the latest.