Under the new plan, the Playhouse will receive a "significant" loan from the Investors Savings Bank; the Board of Trustees and other business leaders have offered increased financial support and will help identify and recruit guarantors for the loan; and officials in Millburn are taking steps to enable the township to financially participate in and support the preservation of the theater.

In the weeks since the Playhouse first announced its financial difficulties, the Playhouse has received over $1 million in donations from individuals, and ticket sales have surged. However, no definite announcement has been made about the 2007-2008 season.

Pirates!, which is based on Gilbert and Sullivan's The Pirates of Penzance, will be directed by Gordon Greenberg, who co-conceived the project with librettist Nell Benjamin and music director John McDaniel. The show will be choreographed by Warren Carlyle. Official casting has yet to be announced.