Pompey will go into their first season in the Premiership with a ground that has less than a 20,00 capacity but chairman Milan Mandaric says the new stadium will have an initial capacity of 28,000, and could rise to 36,000 and hopefully will be completed for the start of season 2005-6.
"There is one hitch to be resolved with a small piece of land required," said Milandaric.
"If we can acquire the same kind of goodwill from this party as we have had from every other, then there will be no obstacles."
"It was important this stadium is one that does not leave the club in massive debt in years to come.
"We see evidence of that all over the country.
"I promised Pompey fans a place in the elite and a stadium to be proud of when I came. One promise is secured and the other very close.
"I will be very happy to reward the tremendous patience shown by our fans over the stadium issue.
"Sometime during the summer we can lay our plans before our supporters who have stuck by this club in the bad times.
"This will then be my gift for their patience and loyalty."