Southern Premier League football club Leamington FC has been given the go-ahead to build a 5,000-capacity stadium with a surrounding primary school, community hall and medical centre.
The plans to purchase and build on land close to the town's Europa Way were "overwhelmingly" approved by local authority Warwick District Council.
Leamington FC plans to install a 3G artificial pitch within the stadium, and build conference facilities, a gym, a cafe and community facilities on the site of the development.
The stadium will be funded by revenue generated from the construction of a separate development, which is expected to include a hotel, pub, local shops and housing.
If the proposal is ratified by the club's shareholders in May, Warwick District Council will purchase its existing Harbury Lane ground to avoid the land falling into the occupancy of gypsies and travellers.
Jim Scott, chair of Leamington FC, said the stadium would help "fulfil the club's aspirations" of being promoted to higher divisions.
"It will also allow us to develop and expand our presence in the community through our programme of football and related activities," he added. "This will give more people the opportunity to get involved, be it as a player, spectator or user of the facilities."
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