TOWN director John Fenty has revealed the club is progressing "very well" in its bid to relocate to Peaks Parkway.
The announcement comes as the club's 12-month exclusivity agreement for the site is due to run out.
The club has been searching for a site for a new home since 1994 and, after being knocked back in a bid to build on land in Great Coates, eyed the 22.7-hectare site between Peaks Parkway and Weelsby Avenue.
Mr Fenty said: "The club has progressed very well with unlocking the potential to deliver a relocation to Peaks Parkway.
"The club has been working with the council's legal team in agreeing the terms of a land option agreement, which the club understands is ready to go to cabinet in due course.
"It is hoped the agreement goes before Cabinet very soon and gets the political backing vital to give the relocation plans a real chance of coming to fruition.
"People need to understand that the club's future is at risk if it cannot relocate. In its current guise, the club is being propped up by its directors and it is not sustainable to stay at Blundell Park."
He continued: "There is a risk that a positive decision will be called-in for scrutiny, beyond which at full council the decision would be put to a vote.
"Simply put, the scheme needs credibility and it is essential that the land option agreement is in place before the club can enter into legal agreements with its enabling development partners."
Victoria Ayling, Ukip's prospective parliamentary candidate for Great Grimsby, backed proposals to build a new stadium on the former Hunstman Tioxide site in Moody Lane.
However, she said she had agreed to meet with John – but only if she could bring along her colleagues Steve Whittingham, Ukip branch vice-chairman, and Councillor John Stockton – as well as Colin Mawer, the member of the public who first mooted the idea of a stadium being sited on the Tioxide site. She claims Mr Fenty declined this offer.
The club would like to make it clear that Mr Fenty did not decline this offer. Mr Fenty had been advised by the council officers, that at the moment the club cannot talk to standing councillors as they may be involved in a decision relating to relocation of the football club. The Town director added: " It was made quite clear to Mrs Ayling that we are more than happy to meet with any respective councillors. parliamentary candidates, plus anybody else."
Please take the time to sign the community stadium petition.