A club statement issued on Thursday night said: “After extensive talks over the last month with the chairman of the 88m Group, he has found a ‘whole site’ solution to the ongoing issue over a new community stadium for the citizens of Wakefield and the club are excited to be a small part in this process.
“There is a scheme currently being finalised which will include a new community stadium and retail park on the existing land at Belle Vue and the Superbowl adjacent to it.
“If the other parties currently involved in the Newmarket site are willing to involve themselves in this solution then there is no reason why the new community stadium cannot be up and running in less than two years.”
The statement added: “88m Group have already had initial stadium designs drawn up and are looking to upgrade these to a full 3D model in the next two weeks. This solution solves every party’s current problems.
“The club are happy to support 88m Group’s ambitions in this regard. However if there is no concrete action within the next six/12 months from the parties involved then the club will have no option but to relocate to a different venue and the chairman of 88m Group is aware and supportive, of this.
“Hopefully this can bring to an end decades of uncertainty and give the citizens of Wakefield the community stadium they were promised nearly four years ago.”
Belle Vue is one of the surviving stadiums from rugby league’s first season in 1895, but has been declared unfit for purpose by Trinity chairman Michael Carter.
He had threatened to relocate the club to Dewsbury Rams’ Tetley’s Stadium before entering talks with 88m Group, which bought the ground from previous owners Bank of Ireland.
Hopes of a move to a new site off Newmarket Lane, in Stanley, have stalled despite planning permission being provisionally granted in 2012.