Exeter City are looking for a firm to help them develop two stands at their St James Park ground.
The club have appointed real estate specialists Jones Lang LaSalle to help find a partner to bring the stadium up to Championship standards.
Exeter want to increase the capacity of the Stagecoach Stand to 2,800 while making a 2,200 all-seater away end.
"In difficult financial times selecting the right partner is essential," said chairman Edward Chorlton.
St James Park's capacity is currently 8,830 with only 3,800 seats and under the plans the capacity would rise to over 11,250 with only the home supporters' Big Bank section, which houses just under 4,000 fans, remaining as standing.
The new stands will be funded by redeveloping a car park adjacent to the ground and building student accommodation.
The club hope to begin work on the ground at the end of the 2012-13 season.
"It may seem a long time to some but we still have a lot to do to get this scheme to the starting blocks," added Chorlton.
"I would like to emphasise to the fans that the redevelopment of St James Park has to be self-financing and will not impact on funding available for the team.
"On the other hand, of course, the Stagecoach Stand has a finite life and failure to replace it would reduce the capacity of St James Park dramatically."