Dunedin City Council has sold the historic Carisbrook sports ground to an anonymous buyer.
The council released the news late today, saying it had entered into a confidential conditional agreement for the venerable ground, the home of Otago cricket and rugby for many years.
The council controversially bought the ground in 2009 for $7 million from the cash-strapped Otago Rugby Football Union as part of a deal meant to bail the union out.
Carisbrook has seldom been used since, but its playing surface has been kept in immaculate condition.
The new Forsyth Barr Stadium replaced it as the home Otago rugby stadium in 2011.
The council said in a statement that due diligence was now being carried out by the prospective purchaser.
''Details of the agreement remain commercially sensitive in the meantime until such time as the agreement becomes unconditional, at which time the sale price and other details will become publically available.''
Carisbrook is zoned industrial, and the DCC said the purchaser intended to develop it for that purpose.
- The Southland Times