Oxford United and London Welsh have had talks over a possible joint bid for the Kassam Stadium, BBC Oxford reports.
Both clubs play their home games at the stadium, and are looking into the possibility of buying the ground from its owner Firoz Kassam.
The clubs held talks on Saturday, agreeing that a joint bid to buy the stadium would be a suitable approach.
U's owner Ian Lenagan has stated a desire for a bid with the rugby union side.
United have played at the stadium since it was opened in 2001 by then-U's owner Kassam, who sold the club but kept the ground in 2006. London Welsh moved in during the summer after their Old Deer Park home did not meet Premiership capacities.
The idea of a possible future joint bid was
Since then, a great deal of speculation has surrounded the future of the ground, with a reported approach by London Welsh denied first by Kassam and then the club.
Kassam also said that the football club have had no recent contact with him regarding the purchase of the stadium.
Welsh's newly appointed chief executive Tony Copsey wants to see the rugby club settle in Oxfordshire, and believes that working with Oxford would be a positive move.
"If we are to sustain our future in Oxford and Oxfordshire it means working with a lot of stakeholders and partners, and that includes Oxford United football club, the local council and the local community," Copsey told BBC Oxford.
"We really want to do that."
A permanent move to Oxfordshire for Premiership strugglers Welsh could depend on whether they avoid relegation this season, as they lie five points ahead of bottom club Sale in the table.