Tynwald will be asked to approve plans to convert the Bowl in Douglas into a new national sports stadium, at the first sitting after the summer recess.
A scheme costing just under ?3 million is being put together, to create a lasting legacy from the 2011 Commonwealth Youth Games.
Detailed plans are currently being drawn up at a cost of ?60,000 and - subject to all the necessary approvals being received - work could start on site before the end of the year.
Leader of Douglas Council David Christian says, considering the position a few months ago, great strides have been made:
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