Yorkshire intend to pump a further £25m into Headingley to make it one of the best cricket stadiums in the country by 2006.
The plans include increasing capacity to 20,000, and come on top of the £10m already invested on developments on the east and west sides of the ground.
The new proposals will be in four phases, the first to be completed by May 2004 in the new north east enclosure where temporary seating has been installed for today's Test match.
A new media centre is planned for 2006 with a new three-storey pavilion on the winter shed site.
Finally, the grandstand on the rugby side of the ground will be redeveloped to include a bank of superior seating with a modern Lord's style canopy.
Chief executive Colin Graves said: "The management board has been discussing ways of raising the money and it is our job over the next six months to see that it is done."
Graves said the redevelopments were intended to make sure that Headingley kept its Test match status, and he had spoken to ECB chief executive Tim Lamb who was most supportive about the plans.
Although Yorkshire were disappointed at losing out on the Ashes Test in 2005, Graves said he was talking to the ECB about the possibility of staging the Twenty-20 Cup Final each year.
England first played Australia on the ground in 1899 and only once since then in a full Ashes series has Headingley missed out. That was in 1902 when Sheffield's Bramall Lane staged its only Test match.
A rota system currently operates among the Test grounds for hosting matches and Yorkshire are due to miss out in two years' time when they will be compensated by being allocated two one-day internationals against Australia and Bangladesh.
Yorkshire president, Robin Smith, said: "There is no point in disguising our disappointment at not getting a Test match with Australia in 2005 but the arrangements were made some time ago and there is nothing we can do about it.
"Test cricket is now also played at Hampshire's Rose Bowl and at Durham's Riverside headquarters and there are simply too many grounds for everyone to be given a Test match each year."
Next year, Headingley will stage the third Test against New Zealand and a one-day international with the West Indies later in the summer.
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