QPR have revealed plans to build a new 40,000-seater stadium in the Old Oak area of west London.
The Rs have been looking for a site to build a new ground since Tony Fernandes took over the club in August 2011, amid fears that the 18,000-seater Loftus Road is too small to help the club grow.
And the club have announced they have reached an agreement with the Greater London Authority and the London Borough of Hammersmith and Fulham to build the new venue.
Fernandes told the club's official website: “Loftus Road is – and always will be – a special place for the club and our supporters, but we need more than an 18,000 capacity.
“With no option of expanding here, we have to look elsewhere and we welcome the Mayor’s and Hammersmith & Fulham Council’s commitment to regenerate the area, which includes an option to develop a new stadium at Old Oak as a key catalyst to bring forward redevelopment, cementing our future in this part of West London.
“Not only will this give us a top quality stadium to cater for QPR's needs as the club progresses and grows over the years ahead, but we are very excited about being the driving force behind creating one of the best new urban places in the world.
“This will be the catalyst for the regeneration of a forgotten area – ultimately bringing new transport, 24,000 homes and at least 50,000 jobs.
“It will create a vibrant new destination in London, boosting local businesses, attracting new visitors and tourism and creating a thriving community.”
Rs CEO Philip Beard added: “We look forward to working with the Mayor and local authorities and we will, of course, be consulting our loyal and passionate supporters, as well as the local community, on our exciting plans early next year. We will look to build a stadium QPR fans and local residents can be proud of.
“Loftus Road is renowned for its atmosphere and with the help of our supporters, replicating that at our new stadium will be one of our top priorities.”