THE sale of the lease of Odsal Stadium back to Bradford Bulls is set to be formally announced imminently, the Telegraph & Argus has learned. 

Odsal Stadium's lease was put up for sale nearly a year ago and global property consultancy Knight Frank was appointed to handle bids, with a "good deal of interest" received.

At the end of January, Bradford Bulls revealed to the T&A that it had submitted an expression of interest in reacquiring the lease of the iconic stadium, which is the rugby league club's home.

The T&A has now been told the transfer of the lease to Bradford Bulls is expected to be officially announced in a couple of weeks.

Lawyers have been instructed to finalise the transaction.

Odsal Stadium opened in 1934Odsal Stadium opened in 1934 (Image: Knight Frank)

Bradford Bulls sold the lease on Odsal stadium to the Rugby Football League (RFL) for a seven-figure sum back in 2012.

The club has since paid rent to the RFL, and the RFL has paid a peppercorn rent to Bradford Council, which owns Odsal Stadium.

However, the RFL confirmed last October it was looking to have the lease taken off its hands.

Jason Hirst, chief executive of Bradford Bulls, told the T&A in July that the deal to reacquire the lease would see the club hand over an initial £100,000, with a further £160,000 to be paid over five years.

Jonathan Hyland, of the Leeds office of Knight Frank, told the T&A today: "We are now on the verge of completing this complex and important deal.

"Lawyers are just working forensically through the final details to ensure each party is happy and a satisfactory decision is reached.

"The RFL was keen to sell the lease and the Bulls were keen to gain more autonomy and control over their ground, so the deal suits both parties. 

"When we first announced that the Odsal lease was up for sale last October, there was a good deal of interest, which wasn't surprising, since this was an absolutely fantastic opportunity to acquire one of the most famous sporting stadia in Yorkshire. 

"Odsal has a wonderful history and is one of the jewels in the crown of the city of Bradford."

Odsal Stadium was opened in 1934 and recently celebrated its 90th anniversary with a gala dinner.

Bradford Bulls and the RFL have been approached for comment.