Moving to a new arena is important for the Leicester Riders basketball team to move forward, the club has said.
The team, which share facilities at De Montfort University, won its first trophy in 12 years on Sunday when it defeated Newcastle in the BBL Cup.
Riders general manager said a stadium would be great for their community work and help them to play in Europe.
Talks continue with Leicestershire County Cricket Club about building the facility near their Grace Road ground.
'Lots of hurdles'
General manager Russell Levenston said: "For us it's something that's got to happen.
"We want our own facilities and to stand on our own two feet, we believe that's what we need to do as a club to get to that next level.
"One day we want to compete in Europe and we'll only be able to do that if we have our own stadium."
The basketball club are also in talks with Leicester City Council and Leicester College about the sports venue.
Mr Levenston said: "There are lots of hurdles still to get over [but] we believe it's achievable."
The Riders hope to open the new arena by the start of next season in September 2013.