The ground will be funded by a retail development by the Lateral Property Group at a major site at Glasshoughton, adjacent to Junction 32 of the M62.

Lateral is in talks with Wakefield Council over plans to develop the new retail site along with a Country Park and significant highways improvements.

Philip Lunn, Managing Director of Lateral Property Group said: “In addition to delivering this new stadium for Castleford Tigers, the enabling retail development could bring a massive boost to the local economy.

“We have had very positive conversations with some of the biggest names in UK retail and we expect to be able to make further announcements soon.

“We estimate that around 2,000 jobs will be created at the site, along with another 680 during construction. Overall, the development will see around £135 million being invested into the local community.

Lateral Property Group has appointed GMI Construction as the principal contractor for the scheme, subject to planning approval.

Jarrod Best, Managing Director of GMI Construction said: “GMI Construction has extensive experience of building sports stadiums, including most recently the New York Stadium for Rotherham United Football Club.

“GMI Construction has supported Lateral on a range of developments across the UK and we look forward to working again with the company on this excellent local project.”

Subject to planning approval, it is anticipated that construction would begin during 2015 and the new stadium would be ready for the 2017 season with the retail opening later that year.