Coventry City plan to build new stadium after Ricoh Arena dispute
Coventry City are looking for a site on which to build a new stadium.
The Sky Blues are planning for a future away from the Ricoh Arena after a year-long rent row with Arena Coventry Ltd.
Chief executive Tim Fisher said: "Everyone is aware of the situation with the Ricoh Arena and the fact that we were forced out of the stadium.
"The club has a responsibility to supporters to make sure the Sky Blues have a long-term home. Doing nothing is simply not an option."
Coventry City FC Ltd was put into administration in late March with debts of £60m, resulting in the deduction of 10 points which effectively ended hopes of promotion to the Championship.
The rent dispute has overshadowed events on the field for most of the season and Fisher said: "The ongoing legal issues have prevented us from talking about this major development until now."
ACL manage the stadium on behalf of its joint-owners, Coventry City Council and the Alan Edward Higgs Charity.
Coventry moved into the 32,000 capacity ground in 2005 after leaving Highfield Road, their home for the previous 106 years.
In March, the club agreed a short-term deal with ACL to complete the League One season at the Ricoh Arena despite the ongoing dispute.
Fisher revealed the club had started the process of identifying a site for a new ground in the local area in a statement on the club website.
"We retained stadium specialists some months ago to advise us on suitable sites for a permanent club stadium in the local Coventry area.
"This will involve a substantial further investment in Coventry City," Fisher said.
"Given the current position with the Ricoh Arena, we have had also to make contingency plans to fulfil our fixtures on an interim basis, while we begin to deliver the long-term vision. That process is also well under way.
"We will ensure that all the fans are kept fully informed as the situation develops and the upcoming fan meetings will provide a further opportunity for discussion."