Town have an “in-principle agreement” in place for around 3,635m² of land behind the existing Cobbold Stand ahead of a future redevelopment, according to Ipswich Borough Council (IBC).
On Saturday, Blues chairman and CEO Mark Ashton said the club had "agreed to buy the land behind the Cobbold Stand” with the replacement of the 53-year-old structure a medium-to-long-term aim.
TWTD reported at the weekend that the land concerned stretches well into the Portman Road car park in front of IBC’s aquatics centre development, plans for which were announced earlier in the year.
An IBC spokesperson confirmed: "The redevelopment of the Portman Road area is an exciting project and partnership between Ipswich Borough Council and Ipswich Town Football Club.
"There is an in-principle agreement in place, though the specific terms are yet to be finalised.
"The comprehensive design work included in the Portman Road masterplan, features plans for an aquatics centre, a multi-storey car park, a hotel and designated space for Ipswich Town Football Club's development and expansion.
"The area in question covers approximately 3,635m² and is an integral part of the masterplan.”
It’s understood the area will cover both the physical building of the the cantilevered structure and also its overhang.