Coleraine Football Club remains committed to the "delivery of its development plans" despite missing out on funding from the latest tranche of the Government's Levelling Up fund.
Then Bannsiders had hoped to secure for their £16m plans to redevelop The Showgrounds venue.
The development would include new stands at the south side next the railway track and the replacement of the Jack Doherty stand increasing the capacity to 8,000, incorporating provisions for player development, hospitality, media as well as safe modern spectator amenities. Facilities would also include a community pitch to meet the growing demand from the local groups.
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Causeway Coast and Glens Borough Council have approved outline planning for redevelopment at the Ballycastle Road stadium.
While the announcement that the club has missed out on funding in this second phase from Westminster, the board of directors are determined to press ahead with their plans.
"The Chair and Board of Coleraine Football Club acknowledge the announcement by the UK Government for round two of the Levelling Up Fund," a club statement said.
"Whilst our diligent, robust and strategic application was unsuccessful in this highly competitive round, we understand additional opportunities are due to be published and the club remains committed to the delivery of its development plans."
The Government has said 10 projects in Northern Ireland will share £71million of levelling-up funding.
The funding will include almost £10million to create new waterfront gardens in the city of Bangor, transforming the former Maghera High School into a new industrial park at a cost of £9million and £20 million to create a new leisure and wellbeing centre in Enniskillen.
The grants also include a £5.1million boost for 20 local rugby clubs, including new female changing rooms to help increase women's participation in sport across Northern Ireland. There is also £4million pledged to rescue East Belfast's art-deco Strand Picturehouse.
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