Thame United Football Club is to sell its Windmill Road ground to make way for new housing.
The club assured fans it will stay at the ground until it gets planning permission to move elsewhere and said the sale has saved it from bankruptcy.
The Ryman League Division One club hopes to move to the Lord Williams's Upper School site, in Oxford Road, where it plans to create new pitches, a training ground and community facilities.
Sally Hunt, chief executive of the club, said agreement had been reached with a building firm for the freehold of the Windmill Road ground.
The deposit paid by the building firm has cleared the club's debts and saved it from bankruptcy.
The deal means the club can carry on playing at its present level while it tries to get planning permission for the new site. The rest of the money will be paid when planning permission has been given by South Oxfordshire District Council.
The amount will depend on the land valuation when the club hands it over.
A decade ago Thame United sold its training ground for housing and used the money to develop its present clubhouse, conference and banqueting suites.
The club has now said one of the reasons it must move now is that it has too few facilities and no practice pitch.
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