Bristol Rovers plan to remain at their Memorial Stadium home for the long-term, owner Wael al-Qadi has confirmed.
After abandoning plans for a new ground at the University of West of England last week, Al-Qadi says Rovers will now look to redevelop their current ground.
The League One club previously hoped to build a new 21,000-capacity venue.
"If we study the Mem properly, we could regenerate and eventually provide the fans with something they have dreamt of," Al-Qadi told BBC Points West.
"If you look at it's size (of the land at the Memorial Stadium), it's kind of ideal. Our size is exactly the same as Everton's stadium. It's a beautiful piece of land, in the heart-bed of Rovers fans."
In 2011, Rovers had reached a deal with the University and Sainsbury's to build a new stadium, with further plans including the supermarket building a store on the site of the the club's Memorial Stadium in Horfield.
However, the supermarket chain pulled out following delays and petitions by campaigners for and against the plans, before Rovers lost a subsequent high-court battle in 2015.
Jordanian Football Association member Al-Qadi's family purchased the club in February 2016, shortly before the club won promotion to the third tier of English football.