Isle of Wight Council bosses have overturned a vote by councillors - who had rejected the partnership to secure £900 million of funding.
Sunseeker To Be Bought By Chinese Firm?
A Chinese property group is set to buy Dorset's luxury yachtmaker.
Dalian Wanda could pay around £300m for Sunseeker, based in Poole, according to reports.
Sources earlier told the Financial Times that say the deal is expected to be closed by the end of June.
"We bought the best yacht company in the UK," the boss of Beijing-based property firm Wanda was reported as saying.
Mr Wang, who is chairman and founder of the firm, did not identify Sunseeker by name.
According to the Financial Times, Mr Wang is a long-time fan of Sunseeker glitz.
It said that, in 2010, his property group bought a rocket-shaped vessel from the firm.
The Sunseeker Predator 108 Special Edition was the same as used by the villain in the latest version of the James Bond film Casino Royale.
The busy road's being made two lanes in both directions between Segensworth and Titchfield - it's due to take 18 months.
Police want to trace man after 11-Year-Old Approached Near Oasis Academy
Family Appeal Is Shared Online After 14-Year-Old Missing Since Friday
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