The price is subject to a confidentiality clause, but it appears to be higher than the "nominal sum" originally mooted.
A report to this Monday's council meeting, which will consider the future of the proposed Awatea St stadium, originally listed a budget entry of $5 million to buy the ground.
The news came as the Carisbrook Stadium Trust announced it had "ticked off" two more of the conditions it was required to resolve before approval of the new stadium - just three days before the council makes a decision on the project.
Trust chairman Malcolm Farry said yesterday there had been an agreement with the ORFU on the sale and purchase of Carisbrook, and the union's tenancy of the stadium.
The relevant conditions, which were set down by the council on March 17 last year, were that agreements were required between the trust and the ORFU for the sale and purchase of the union's property assets.
As well, there had to be an "occupational and revenue agreement" between the two.
Mr Farry said the issues were resolved yesterday, subject to final agreement.
The sale of Carisbrook was the subject of controversy in November last year, when it emerged the ORFU wanted to make a profit on the deal, despite an understanding it would be bought for a nominal fee since the union would benefit from a ratepayer-funded stadium.
The union owed $2 million to the city council and $4 million to the Bank of New Zealand, according to last year's ORFU annual report, and ran up a deficit of more than $2.6 million in the previous two years.
The annual report listed its assets, mainly Carisbrook, at $13 million. Mr Farry said in his opinion the purchase was for a "fair market value".
Council chief executive Jim Harland said on Wednesday the sale of Carisbrook had been removed from the stadium budget equation, because any money made would be used to pay debt accrued on the ground.
Last night, he said the council had been negotiating to buy the ground. Mr Farry said yesterday a lease agreement had also been negotiated with the ORFU.
"We've done that today. There's lots of things we had to tick off, and that's one of them."
Mr Farry said people got hung up on the words "anchor tenant" for the union's role, but because it would only be used for a certain number of days a year, "we have agreed to a venue hire agreement for a certain number of days".
"That's what we've been doing with all the people who will be using the stadium."
The only people who would have a lease and be there all year, Mr Farry hoped, would involve a "very important" centre for elite sports, which would also conduct research into areas such as training programmes for the elderly.
The trust was talking to "various parties" about that initiative.
"Those discussions will increase in intensity if or when we get the go-ahead for the stadium.
There will be a revenue stream from that, but it is also quite important for the significant value it adds to the national and international reputation of the stadium."
