Weymouth have outlined proposals for a state-of-the-art 6,000-seater stadium.
The project will cost £7m-£10m, with the bulk of funding provided by the redevelopment of the Terras' existing Wessex Stadium site at Radipole.
The Blue Square Premier outfit's chairman Malcolm Curtis told BBC Radio Solent: "This stadium here is as rotten as a pear.
"It is completely unsustainable and is only used 23 afternoons a year and that cannot be right as a modern facility."
He added: "We need to have a facility that embraces the community seven days a week, every hour of the day and that's what I believe this [new] stadium delivers on."
The club will submit planning permission in early 2009, and completion is scheduled just a few months ahead of the 2012 Olympic Games.
Weymouth and Portland will be hosting the Olympic sailing regatta during the Games.
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