Cambridge United could move to a new stadium on the green belt in the east of the city, the club announced.
The League Two Club has been trying for years to find a new home.
She hopes to build a multi-purpose stadium with a capacity of 12,000 spectators in the countryside near Marshall Aerospace.
The club's executive director, Ian Mather, said the proposal had "a lot to offer", but was "at an early stage" and funding was still to be arranged.
The club had hoped to move to a new stadium in the Trumpington area, but was not supported by the city council in 2013.
Instead, the Abbey Stadium from the 1930s was to be rehabilitated, but these plans failed.
Mr. Mather said the "beloved" stadium on Newmarket Road is "at the end of its useful life".
Abbey Stadium: A timeline
- December 2004: Cambridge Utd sells the abbey to director John Howard for £ 2.92m to cut back on the administration (they subsequently join the administration in April 2005).
- April 2010: Grosvenor buys the abbey from former club director, Mr. Howard, for £ 3.5m, cutting the club's rent to a symbolic level
- April 2012: Grosvenor unveils plans for a community stadium and sports village in Trumpington Meadows
- May 2013: Grosvenor's plans are not included in the updated local plan of the City of Cambridge
- January 2015: Plans for a new site are postponed. The club is scheduled to stay in a refurbished Abbey Stadium
- June 2017: Grosvenor withdraws plans for a refurbished abbey stadium and a combined residential development due to lack of support
The club has worked with Marshall Aerospace and Cambridgeshire County Council to develop plans for land that would be unlocked through Marshall's move.
In his favor include the proposal for a Cambridgeshire & Peterborough Combined Authority subway system and a planned relocation of Newmarket Road Park and Ride Station.
Mr. Mather said the stadium was "as low-carbon as possible".
He added that it was designed to be used "365 days a year" and hosts concerts, conferences, medical facilities and football.
The club hopes that the stadium, which could cost up to £ 25 million, will receive external funding.
She hoped she could rebuild a new ground before Marshall relocated and within five years, subject to planning.