The Sporting Globe chief executive James Sinclair confirmed to The Courier on Thursday afternoon that both the business and site – located in prime central business district territory on the corner of Mair and Lydiard streets – had been purchased in late January and will serve as a base to establish the chain’s seventh outlet.

Mr Sinclair said the business was purchased off former owner Tadcaster Hospitality, but elected not to give a price.

The Sporting Globe Bar and Grill is a sports bar style franchise that has expanded throughout Geelong and Melbourne.

Franchise manager Brad Dekkers conceded on Wednesday that Ballarat was being considered as an option for expansion but did not confirm the sale had been completed, while Colliers International realtor Will Connolly also remained tight lipped when contacted on Wednesday.

Jackson’s and Co. has been notifying customers that the business will close as soon as April.

An email written by a staff member to a customer on February 23, which was then supplied to The Courier, stated that the business “will be closing for renovations from April”.

"We have actually recently been informed that we will be closing for renovations from April - June as will be reopening as a Sporting Globe,” the email read.

Mr Sinclair said he’s excited about the opportunity to open another regional extension, believing the Ballarat site can emulate the success of the Geelong base.

“Ballarat's got a really vibrant atmosphere and we just thought it was a fantastic opportunity,” he said.

“Lots of our venues are near cinemas.”

Mr Sinclair said there is no confirmed open date, but the venue will undertake a “facelift” during renovations.

He said the rooftop bar and second story balcony are defining features of the venue.

“The fit-out will be a really modern look and feel,” he said.

“It's more (going to be) a reconfiguration of the internal operating functional areas.

Jackson’s and Co. senior staff have been contacted for comment.