Bournemouth are looking at potential sites for a new ground after confirming their intention to leave the Vitality Stadium on Friday.
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The Premier League club's home, which has a capacity of less than 11,500, is leased from property investor firm Structadene.
The club had hoped to buy the stadium back and redevelop the ground in order to make it more suited to the demands of the Premier League.
However, chief executive Neill Blake said via a statement on the club's official website that Bournemouth "will not be held to ransom" over the cost of doing so and are now searching for a new venue.
"Earlier this year, the club submitted an application to redevelop the South Stand, which is due to go before planners later this month for approval," Blake's statement read.
"It has always been the board of directors' preferred option to buy the stadium back from Structadene and develop a Premier League-standard stadium on the current site at Kings Park.
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"However, following discussions over a number of months with both Structadene and Bournemouth Borough Council's planning department, it has become apparent that this will not be possible.
"Firstly, we are not going to develop a stadium we do not own and will not be held to ransom over a price to purchase the existing site.
"And secondly, the council's planning department have made it clear that they would not welcome a significantly bigger stadium in Kings Park, meaning we are severely constricted in what we can achieve on this site with regards to size, capacity and facilities.
"Therefore, we feel we have no other option but to find a new site and are working closely with Bournemouth Borough Council to identify a suitable location."