JD Wetherspoon has acquired an historic pub by the Trent Bridge cricket venue from Mitchells & Butlers.
The managed operator is planning a £1.1m refurbishment at the Trent Bridge Inn, which is located on the corner of the famous test match cricket ground.
Eddie Gershon, spokesman for JDW, said refurbishment plans had not yet been finalised, but there will be a "complete redevelopment" of the site.
"Wetherspoon is confident the pub will attract lots of customers outside of the cricket season, but there is obviously the great bonus of attracting cricket fans as and when the season is underway, both in county matches and also test matches," he added.
The deal will create around 55 new jobs, although current staff will be given the option of staying on.
"We are delighted that the deal to purchase the Trent Bridge Inn has been completed," chief executive John Hutson said.
"We look forward to undertaking the redevelopment of this historic pub in the near future and believe that the new place will once again be an asset to the area."