The IFA and Linfield have signed a deal on Windsor Park which will free up millions of pounds that can be redirected to the redevelopment of the Brandywell Stadium.
SDLP Foyle MLA Pat Ramsey welcomed the news that some £31 million will be made available for local football.
Mr Ramsey said: “The news tonight that Linfield FC and the IFA have signed a deal on the future of Windsor Park means that Derry City are in line for a massive capital investment of millions of pounds for the redevelopment of the Brandywell Stadium. £31 million will be made available for local football in a second tranche of funding locally, and Derry City can benefit from that funding in the short to medium term.
"I have been working consistently with stakeholders on the redevelopment and I am delighted that the opportunity to provide a modern and sustainable ground for our local team is now within reaching distance. While specific detail of financial investment are not yet clear, I am confident that Derry City FC will be in line to finally see the capital investment that will transform the Brandywell."