Coventry council tax payers will have to meet the £2.9m overspend costs of building the £113m Ricoh Arena.
In all £2m was spent speeding up building work on the arena
Most of the over budget costs were incurred in speeding up building work to meet a revised opening date.
A meeting of the city council on Tuesday is set to approve using council reserves to pay the added costs.
Officials said the arena had brought huge benefits to the city including 2,400 jobs. The cost could be offset by the sale of nearby land worth £5m.
The new home for Coventry City Football Club was originally set to open for the final game of the 2004-05 season in April 2005.
The arena eventually opened three weeks into the start of the following campaign in August 2005 after the first home game of the season was switched to Norwich.
A report, to be considered by councillors on Tuesday, states that £2m was spent to accelerate work to meet the eventual completion date of 19 August.
It states the overspend costs were significantly less than average for developments of such a scale.
Officials said the stadium had produced "huge regeneration benefits" for the city, as it is also used as a concert venue.
Most of the 2,400 jobs created had been filled locally, transport links had been improved and a brownfield site regenerated.
The costs of meeting the overrun bill could be further offset by the sale of land next to the arena, which could be worth up to £5m.
The report said the council is still pursuing plans to build a railway station for the stadium which was abandoned after the Strategic Rail Authority refused permission.