Coventry Bees will continue to race at Brandon Stadium for another year after being offered a new lease from 2017.
The Elite League speedway side had previously feared that their future relied on a ground share deal.
After talks with the new landowner, who plans to develop the site for housing, there is the possibility of a further two-year extension to the new lease.
Bees owner Mick Horton admits that the club's long-term future remains "a concern".
"There can be no doubt that this offer has given the speedway team some security in the short-term," Horton told the club website.