Mr Newton, who announced the news to shareholders at the club's AGM on Thursday evening, commented: "We are grateful for the funding which has been allocated under Labour's Plan for Change - and is being managed via the Boston Partnership Fund. We thank everyone who has worked to make this happen.

"This will enable construction of the South Stand and Sports Hub to commence.

"Preliminary works on foundations and drainage will start within the next few weeks, with the erection of the main steel frame planned to start before Christmas.

"The stadium will, of course, remain open during construction works, so will need careful management. Although fans will be interested in the works, I ask that everyone understands that the stadium will become a construction site, so only attend on matchdays, or when you have specific business at the stadium, collecting tickets, or using the club shop, and keep to 'non-construction' areas.

"We will communicate regularly about any traffic restrictions that may be imposed from time to time. The stadium will be open for all fixtures as usual.

"It has been a long journey, but I am delighted that the last piece of the jigsaw will be in place soon for the benefit of the club, the Community Foundation and the local community."