The Football League club is working with North East Lincolnshire Council to look at other options to the original preferred site of partly council-owned land at Peaks Parkway.
The Peaks Parkway site was identified in two independent sequential appraisals commissioned separately by the club and the council as the best site for such a development.
However, in a joint statement from the club and the council, it said that since then, circumstances had changed with developments proposed at Garth Lane, the Fish Docks and Freeman Street as well as the council securing government support for the ‘town deal’.
As a result, due to the other potential development in the borough, it has been agreed to pause on Peaks Parkway in order to explore the opportunity to deliver a transformational project.
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Both the council and Grimsby Town said they remained committed to developing a community stadium.
“The on-going discussions over the last 18 months or so have established a strong and firm relationship between us and we now want to move forward as quickly as possible to hopefully identify the best and most suitable site and move on with the project, both for the community and the club’s fans,” said the joint statement.
“The key issues for all of us involved remain what, where, when and how and that’s what we will be working to resolve.
“The club is delighted to be in the forefront of the council’s ambitions for the town.”
The statement continued by adding: “The club and the council cannot and will not stand still in terms of regeneration and all parties involved agree that we owe it to the area to do all we can to see a new community stadium built.
“As such, we are now committed to developing future plans as soon as possible and hopefully, once agreed, we can then push ahead and work with the community and the club’s fans to deliver a stadium we can all be proud of and which will be a catalyst for further regeneration in the town.’’