Nene Park is set to be demolished and make way for a new leisure park in Irthlingborough.
, which is the former ground of Rushden and Diamonds and most recently Kettering Town, will be replaced with a multi-use football facility as well as entertainment and retail zones.
The decision to redevelop the area could create up to 170 new jobs should plans be finalised.
The venue has a capacity in excess of 6,000, but has not seen regular football since 2012, after Kettering could no longer uphold their financial commitments.
Rose Property Consultants, developer for the new site, said plans would "help to publicise shops and provide additional car parking" and that "elements of the famous heritage of Rushden & Diamonds will be conserved”.
Proposals for the project will be displayed at Huxlow Science College on 19th and 20th of September.