Yeovil Town have confirmed discussions with South Somerset District Council over the potential sale of the stadium and land at Huish Park.
The deal would see the council buy Huish Park freehold land, as well as the long leasehold parcel of land to the east of the site. The leasehold land will become freehold and the whole site will be leased back to the club, with all charges and restrictive covenants being removed.
The National League club will also have an option to buy back the entire site.
Chairman Scott Priestnall explained: “I am confident that this is the most prudent deal for the club and its longevity. To date, we have had numerous bids for our land but we have not yet found an opportunity that gives the club the best possible future.
“It has been a very difficult year for everyone and businesses across the UK have been affected by the COVID pandemic.”
Priestnall goes on to add: “In order to avoid serious financial distress in the coming months, our club has to take action. With this in mind, I ask supporters, the local community and local councillors to support the proposal by SSDC to purchase Huish Park and lease it back to the club with an option to buy it back.
“A solution that gives the football club and its supporters the future it deserves.”