Sheffield says World Snooker deal could be worth £208m over 25 years

The World Snooker Championship could be worth as much as £208m to Sheffield over the next 25 years, according to new figures from the city council.

The council says a deal with World Snooker Ltd, the championship's exclusive rights holder, would require up to £89m of investment in the city. That includes the £45m refurbishment and expansion of the Crucible Theatre, the event's host venue.

The figures came as the council published a contract award notice, the first formal procurement step towards the long-term agreement.

The Crucible, home of snooker since 1977, would gain 500 seats in the revamp to become a 1,500-seat theatre in the round.

The structure of the £45m funding package was agreed at a round table hosted by Keir Starmer, then Prime Minister, during a visit to Sheffield in March.

Last week the council approved the next stage of design work and the preparation of a full business case. It said it was developing a funding strategy after confirmation that “there is a credible route to a fully funded scheme.”

Funding is expected from South Yorkshire Mayoral Combined Authority, government and “private, philanthropic and strategic funding,” the council said.

The championship currently brings around £6.5m a year into Sheffield's economy through visitor spending, hotels, hospitality and other business. That is expected to rise substantially once a modernised, larger Crucible can attract more visitors and earn more for the city across the year. The tournament runs for 17 days each spring, and the venue mainly stages theatre for the rest of the year.

Coun Fran Belbin, leader of Sheffield City Council, said expanding the Crucible would help secure its future as one of the city's most important cultural venues.

She said: “The figures published today demonstrate why securing the long-term future of the Championship matters.

“This is an investment that will deliver substantial economic returns for Sheffield, helping to support jobs, tourism, hospitality and our city centre for many years to come.”

She added that Sheffield has more than 2,000 cultural and creative businesses, providing around 9,000 jobs and almost £1bn of economic impact each year.