Tony Fernandes has reiterated that Queens Park Rangers must leave its Loftus Road home if the club is to thrive in the Premier League.
The West London venue has been used by the R's for over a century, but the stadium holds just 18,439 spectators, making it the lowest-capacity ground in the top flight.
A long, drawn-out legal process awaits QPR before any relocation plans can go through, although owner Fernandes insists that the decision has been taken with the supporters in mind.
"We need to move on from Loftus Road if we are to sustain a top-flight football club and Old Oak Common is the only realistic place for us to move," he is quoted as saying by ESPN. "[It is] close to our fans and our roots, with great transport links, and the opportunity to be at the heart of the most exciting new development in West London for years.
"We are delighted that so many of our fans and members of the local community share our vision for the future of both QPR and Old Oak. This is only the first stage of consultation and we will continue to work with the community as we develop our plans in more detail.
"Old Oak is the biggest regeneration since the Olympics and we have a responsibility to future generations to get it right. We need a comprehensive planned approach with a stadium as its beating heart, led by a football club with a stronger interest in the local community than any other kind of business."
Motor dealership Car Giant are also planning to redevelop the site, with negotiations between the two parties said to be still ongoing.
