Molyneux Ward Labour Councillor Tony Carr said he is delighted that the old Paradox site will finally be brought back into use with the creation of 78 new jobs.
The old night club site will become a sports retail and leisure complex.
Cllr Carr met with representatives of the business, Sports Direct Ltd, to persuade them to move on to the site.
They have now been given permission to build a 3,716 sq m building which will comprise a shop, gym and restaurant, together with a 154 single storey car park on the Ormskirk Road site.
Cllr Carr said he was pleased the site was now going to be used to create jobs in the area.
Cllr Carr said: "For a long time the old Paradox site has been a blot on our landscape.
"The club was shut down in 2001 after complaints about violence and drug use. In all that time, it has stood empty.
"That's a prime site stood empty and decaying for 11 years.
"At a time when we need to create job opportunities the creation of 78 new jobs at the Paradox site is good news for us here in East Sefton and good for the whole of the borough."
Cllr Carr said he has also spoken to the company about incorporating the famous Vernons clock faces in the new development.
Cllr Carr said: "They told me that they looked into how they could incorporate the tower into the development, but it simply wasn't achievable.
"But they have given me assurances that they will use the clock faces in some way.
"This site has in the past been a key source of employment for this area. It is part of our history.
"At this time when money is tight in Sefton, the new plans bring in to our area some much needed investment, while also once again making the site an area where local people can find employment.
"This is good news for us here in Aintree and East Sefton and it is good news for the whole of Sefton."