Kingston Park, the home of Newcastle Falcons Rugby Football Club (NFRFC), has been acquired by Northumbria University after it was put on the market by troubled bank, Northern Rock.

NFRFC's existing lease of the ground will remain unaffected by the deal, which will see the university assume ownership of the 23-acre (9.3-hectare) site, including the rugby stadium, surrounding land and a car park. The university, which already owns a sports ground adjacent to the stadium, now intends to develop a rugby-based Centre of Sporting Excellence in partnership with the club, offering facilities to develop new rugby talent.

Andrew Wathey, vice-chancellor and chief executive of Northumbria University, said: "The Northumbria teams currently boast some great talent, with several students playing at international level and in the Newcastle Falcons. "There is enormous synergy between these activities. In addition to developing the Centre of Sporting Excellence at Kingston Park, we hope to host Team Northumbria and University games at the stadium in the future, providing first-rate playing experience and facilities for the young rugby stars of the future."