Everton chief executive Keith Wyness claims "the deal of the century" is in place for a new stadium in Kirkby.
Everton have outgrown current home Goodison Park
A ballot is to be conducted among around 33,000 Everton fans to decide on the stadium, which could open by 2010.
But Wyness insists there is no Plan B to the move, which will be helped by £50m from supermarket giant Tesco.
He said: "It is an amazing deal. The deal of the century. If the heart rules the head we will never get an opportunity like this again."
The stadium will be built on land contributed by Knowsley council and will hold between 50,000 and 55,000 - and will include a Tesco store and shopping centre.
Everton claim they will be left with minimal debts from the scheme and they would have around an extra £10m a year in transfer funds.
Any cash Everton need to put into project will be offset by naming rights to the new stadium and the sale of Goodison Park, which could raise about £15m.
Sections of the club's supported have registered their opposition to a move outside the Liverpool city boundaries.
But Wyness claims Everton could face serious problems if they stay at Goodison Park.
He told the Daily Post: "There is no other site that we have found that will involve the same level of contribution.
"We will be left with very little debt at the end of it. The deal compares very favourably with other clubs building new stadiums. We will be getting a very nice stadium for a small amount of money."
Wyness added: "There is a long way to go. If the fans vote in favour, which I am confident they will, we still have to go through the planning stages.
"There are potential for delays, but if everything goes smoothly, we could be ready by 2010.
"If we have to carry on at Goodison, there will be serious issues.
"Attendance numbers will go down and then revenue will go down and when that happens, you can't compete. There is no Plan B. There is no other option."
The ballot will be run by the Electoral Reform Society, with the result expected at the end of August.
The club have already ruled out increasing the capacity at current home Goodison Park and a groundshare with Liverpool is now a non-starter.
A protest group, Keep Everton In Our City, has been set up to oppose the move, while the Kirkby Residents Action Group (KRAG) is upset over the idea of having a football stadium in their hometown.