The sale of national football stadium Hampden Park to the Scottish FA has been completed.
Queen’s Park have confirmed the stadium has now changed hands and the amateur side will move to Lesser Hampden in the spring of 2021.
Agreement on a deal was reached last year after the Scottish FA considered its options for when their existing lease expired. Several options were considered during a four-year review, including a pitch from Scottish Rugby to host matches at Murrayfield, before an offer was made to Queen’s Park to buy the stadium.
The purchase price is in the region of £5m and will be partly funded by Lord Willie Haughey and Sir Tom Hunter.
The stadium was built by Queen’s Park in 1903 and has hosted games of huge historical significance. It still holds attendance records for European football.
Hampden was the venue for the 1960 European Cup final between Real Madrid and Eintracht Frankfurt when a record 127,621 supporters filled the stands.
Five other European finals have been held at the ground, as well as Olympic football. Three Euro 2020 matches will be played at Hampden when the rescheduled European Championships are held next year.
Queen’s Park president Gerry Crawley said: “It was a difficult period for the club to conclude what was a complex transaction. The sale of the stadium brings mixed feelings.
“We are pleased the historical home of Scottish football is staying at Hampden. Although we won’t be playing our games at The National Stadium much longer, there is excitement the outcome gives the club a solid footing to move forward from our new base at a redeveloped Lesser Hampden.
“Work has already started, and we aim to have it complete by spring next year. The facility will have around 1,700 covered seats with a new East Stand, and a redeveloped West Stand. There is scope to increase capacity if required.
“The stadium we are building now might not be as big as the one we created back in 1903, but everybody connected with Queen’s Park Football Club is determined it will become a launching pad for an exciting new period in our long and distinguished history.”