Simplify the following text for a Grade 10 native English-speaking person.
Original: It is hoped that the Â # 29million redevelopment of the sports complex will be used as training camps for the 2012 London Olympics and the 2014 Commonwealth Games in Glasgow .
Simplified: It is hoped that the new Â # 29million sports complex will be used as training camps for the 2012 London Olympics and the 2014 Commonwealth Games in Glasgow .