The Warrnambool City Council has secured 10 million dollars in funding but will also apply to Cricket Australia and the AFL for additional funding as well as local philanthropic groups.
Seven million dollars from Sport and Recreation Victoria and Regional Development Victoria.has been secured, along with 3 million dollars provided through by Treasury Corporation Victoria through the State Government in the form of a loan.
Warrnambool Council's John Finnerty says the playing surface will be completely upgraded and that alone takes 18 months so the turf has time to establish for the best possible result.
The upgrade also includes significant upgrades to the lighting, a new pavilion, and significant amenities improvements.
Mr Finnerty says behind the scene works are happening at the moment.
He says a project officer for the Reid Oval project will start working with the Warrnambool City Council in three weeks for the duration of the project.