Scunthorpe are planning to upgrade their Glanford Park stadium.
The Iron, who became the first side to switch to a new ground in the modern era when they moved to the site in 1988, want to increase their revenue streams by redeveloping the stadium.
On Thursday morning they purchased 3.6 acres of land next to the ground which they plan to turn into leisure and conference facilities.
"A meeting of the board of directors together with planning consultants is taking place later on Thursday," chairman Steve Wharton told the Scunthorpe Telegraph.
"A new stadium is now highly unlikely within the foreseeable future. It is therefore imperative we develop our existing site to its maximum potential."
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