A statement released by the governing body read: “The Scottish FA has concluded a legally binding agreement with Queen’s Park FC for the transfer of ownership of Scotland’s National Stadium, Hampden Park.“Heads of Terms were signed in September last year after a period of dialogue and after further discussion on structural and financial aspects of the agreement, a formal legal offer was issued on behalf of the Scottish FA on June 7, 2019.“We have now received notification from Queen’s Park that they have accepted the final and binding deal.“Key stakeholders including Scottish ministers, sportscotland, Big Lottery Fund and Glasgow City Council have been informed of this formal agreement and the transfer of ownership will take place on 1 August, 2020 – after Hampden Park hosts its UEFA Euro 2020 fixtures. The Scottish FA have completed a deal to purchase Hampden Park from Queen’s Park next year.Broad agreement over the sale of the national stadium was reached last year and both parties have been working on the details since.A formal document has now been signed and the sale will be finalised after Hampden hosts Euro 2020 matches next year. The purchase price, in the region of £5m, will be partley funded by Lord Willie Haughey and Sir Tom Hunter. “The board of the Scottish FA will now seek to ensure ownership of Hampden Park is a game-changer for the Association, its members and all its stakeholders.”Queen’s Park currently lease the ground to the SFA for international matches and Scottish Cup games but the existing agreement expires next year. The Scottish FA considered other options, including a pitch from Scottish Rugby to use Murrayfield, during a four-year review before submitting a bid for Hampden.Rod Petrie, recently appointed as Scottish FA president, said: “Given the hard work from everyone since the agreement of last September I am pleased we now have a legal contract with one of our member clubs for the good of Scottish football.“The real work begins now to ensure Hampden Park can continue to serve the needs of the game and be an inspirational home for Scottish football in the future. “We can build on the short-term work currently undertaken to make Hampden Park, Glasgow and Scotland a memorable host city venue for the forthcoming UEFA EURO 2020 finals.”Hampden will host host three group stage games and one last-16 match at the European Championships in 2020.