A planning application which could result in Truro City's Treyew Road ground becoming a retail park will be submitted to Cornwall Council in the spring, according to club chairman Peter Masters.
In a statement released on Saturday Masters said London-based property developers Helical Bar, who have an option to buy the ground from owners JoJo Investco, had been working alongside the club to draw up the plans.
According to the statement a succesful development could see Truro City "acquire a significant interest in a new ground," with a site at Langarth Farm touted as a possible destination.
Masters said: "Helical are working up their proposals to develop the football club site and land adjacent for a retail park in consultation with ourselves. They are in Pre Application discussions with Cornwall Council as to the size and content of the scheme and hope to submit an application in the spring.
"Prior to submission Helical will consult with all interested parties including a public exhibition in order to receive feedback prior to finalising the design.
"The precise content of the scheme has not yet been released but a successful development will enable the club to acquire a significant interest in a new ground. This could be the stadium site at Langarth Farm but other alternatives are also being considered."
Masters also revealed that Helical Bar are facing competition from rival developers, Jersey-based LXB, for the right to build on land near the city centre.
LXB's plans for a site at Willow Green Farm near Threemilestone include 435 homes, a 60-bed nursing home, a primary school, and a major supermarket.
He added: "Helical will be objecting to the proposals by LXB at Willow Green Farm because they consider this to be far beyond the intentions set out in the planning brief for Threemilestone and beyond the intention of a district centre to serve the local needs.
"Treyew Road is sequentially the nearest available site to the City Centre and will provide space that the City Centre cannot provide. Truro needs this space to attract new retailers to the City to enable it to compete against proposals at St Austell and Hayle.
"Given the position the club found itself in prior to Philip and my intervention we see this as a positive move which will contribute to securing the long term future of Truro City Football Club and ensure that events that threaten our very existence will never be repeated.
"Further updates will be released as matters develop."