The club intends to submit outline planning applications for a new 22,500-seat stadium and a mixed-use project at Luton’s Power Court and Newlands Park.
Gary Sweet, Chief Executive of Luton Town FC said: “Not only do I feel privileged and proud to be able to have the opportunity to promote Luton as a great place to invest but, at least, it feels like a relocation for our football club could become a reality.
“Not just a relocation but one which will put us right at the heart of our community which will regenerate and revitalise a significant part of our town.”
The £150m scheme, led by 2020 Developments, will also include venues for live sport, retail and residential apartments.
A response to the application is expected by the end of 2016.
Luton Town’s announcement was made at a “Think Luton, Think Investment” event hosted by Luton Borough Council in St Pancras, London.
The council revealed plans to become a major player in the UK economy through a £1.5bn inward investment programme.
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