London Broncos Rugby League club will be ground-sharing with Barnet, it was announced this evening.

The Super League side had been under threat of administration but the deal to play at The Hive, as well as the Bees’ former ground Underhill, safeguards their immediate future.

In a statement on Barnet’s website, Broncos chairman David Hughes said: “Our focus has always been to ensure we made the right decision going forward. Over the last ten days, we have worked closely with the Rugby Football League and Barnet chairman Tony Kleanthous to avoid administration and secure the future of the Broncos.

“I believe this is the right decision, not only for the club, but also for the future of Rugby League in London.

“Many hours have been spent working to make sure the Broncos are positioned in an environment where they are best able to prepare and compete at the highest level.”

Broncos chief executive Gus Mackay said discussions had been ongoing for six months and “the initial agreement is for the 2014 and 2015 season with a view of a longer and permanent arrangement”.

Kleanthous said: “We are delighted to welcome the London Broncos into our family here at The Hive.

“This deal represents a new beginning for the club and we have to work with them in the community to grow the participation and support of Rugby League in North London.

“The Hive is a £26m internationally recognised training complex incorporating a stadium, sports science unit, gym, conference centre and state of the art media facility.

“We are proud to enhance the number of resident clubs here and host the Broncos alongside the Bees. I feel these are exciting times ahead for both clubs and I cannot wait to take my seat for our first RL match next year.”

The Super League side have been seeking a new home since their eight-year ground-share deal with Harlequins ended in September.

Sixteen players have left the club since the end of last season and last week they signalled their intention to appoint an administrator while talks continued to safeguard their future.