Yorkshire said Tuesday they had taken a "significant step" towards ensuring that its Headingley headquarters in Leeds, northern England continued to stage international cricket.
Headingley's future as an international venue was under threat after it was revealed last week that Leeds City Council had withdrawn a �4 million ($5 million, 4.6 million euros) to help fund redevelopment of the 'Football Stand' that Yorkshire share with neighbouring rugby league club Leeds.
That work is needed to help meet the minimum capacity requirements for international cricket stipulated by the England and Wales Cricket Board (ECB) ahead of the 2019 World Cup in England.
But Yorkshire chief executive Mark Arthur said a new funding agreement, which has council support, had been agreed amid reports the club had struck a �35 million deal with a London-based investment company.
"We would like to thank Councillor Judith Blake and Leeds City Council for their support in reaching this point," Arthur said.
"There is still a long way to go -- however, it is a significant step in securing the future of international cricket at Headingley.
"Yorkshire County Cricket Club will continue to work hard to ensure that all remaining funds are in place to ensure that the redevelopment is completed in time for the Cricket World Cup in 2019."
The 'White Rose' club did not publish specific figures or name the source of the new investment, referring only to an agreement with "a financial institution".
Yorkshire, English cricket's most successful county, provide the current England Test captain and wicket-keeper in Joe Root and Jonny Bairstow respectively.
Headingley staged its first international match back in 1899 and has witnessed some of cricket's most remarkable performances, including two Test triple hundreds by Australia great Don Bradman in 1930 and 1934.
But perhaps the most celebrated of all Tests ever staged at Headingley came in 1981.
England, defying mid-match odds of 500/1 to win, recovered to beat Australia after being made to follow-on thanks mainly to all-rounder Ian Botham's 149 and fast bowler Bob Willis's eight for 43.