Croydon Council is to become the majority shareholder of two of Croydon's key cultural attractions, the Fairfield Halls and the London Mozart Players (LMP).

In proposals to be considered by its cabinet next week, Croydon Council will take a 75 per cent control of the charitable companies.

While the move would effectively put the organisations under council control, their running will be left to the Arts organisations themselves.

The move is to give the council greater control of the millions it has invested in the two organisations and how it is spent, a proposal that has already been agreed with the two organisations.

The council already supports Fairfield and the LMP with grant funding, with £950,000 going to the halls this year and £90,000 going to LMP.

It is also investing £27m into the refurbishment of the halls, which is set to be completed by 2017.

The changes would effectively mean the council will become majority shareholders.

But they will still have a smaller representation at board level at the two organisations, meaning day to day running would be left to the organisations.

Simon Thomsett, chief executive of Fairfield, said the plans were positive, and signified the council were asserting their commitment to the two organisations for the long term.

He said the move to take control of the halls protects the council’s investment and gives them more of a say in how their money is spent.

He said: "From our point of view it is a vote of confidence in the achievements of the last few years where we have turned the fortunes of this place around."

Mr Thomsett added the day to day running of the halls will not change under the new hierarchy.

The Fairfield Halls and LMP are two of the main cultural attractions in Croydon.

LMP is one of the country’s oldest and most well-respected orchestras, and has been based in Croydon for the past 25 years.

Deputy leader Councillor Tim Pollard said: "We think this proposal is the best way of supporting Fairfield and the LMP through challenging economic times, while ensuring effective accountability of public funds."

Simon Funnell, chief executive of LMP said the group were looking forward to working closely with the council and Fairfield Halls.