Portsmouth are set to leave Fratton Park and move to a new 36,000-capacity stadium overlooking Portsmouth harbour.
If the FA Cup holders receive the necessary planning consent, work will start on the new ground next year.
The new stadium, designed by the firm responsible for Beijing's Olympic Stadium, will be on an ex-landfill site by the M275 and M27 motorway junction.
"We only have one word to describe this stadium - perfection," said Portsmouth chief executive Peter Storrie.
"The club will be playing a big part in the regeneration of the city and our fans will have the very best in terms of facilities and amenities, as well as an excellent viewing experience.Portsmouth Football Club has moved into a new era with the backing of owner Alexandre Gaydamak and these are very exciting times for the club, both on and off the field."
The development would include an indoor exhibition centre/arena with a 10,000 capacity, a new diving training facility for the Royal Navy and a residential, retail and leisure complex.
The scheme is being designed by Swiss-based architects Herzog & de Meuron.
In addition to the Olympic Stadium, commonly known as the "Bird's Nest", they also designed the Allianz Arena football stadium in Munich.
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