"I am pleased to be able to announce that we now have a report from Council officers with a recommendation to Councillors that we can now approve the Club's business plan. This report, will now be duly considered by the Council in its December cycle of Scrutiny and Executive meetings. I see this as a huge step forward, not only for the Football Club but for the city of Cardiff as well.
Chairman Peter Ridsdale said of the news
"Today's announcement is truly a milestone for Cardiff City Football Club.
"Many people have been involved in getting to the stage where the talk has now turned into reality.
"From a position where the club's very existence was in question, we can now look forward to the day when we will be playing in a new stadium which will give us a real chance to compete with the very best in professional football," he added.
Work is due to start in March with completion towards the end of 2008. First though the matter will be considered by the council's scrutiny and executive committees in December. With the project recommended for approval this should hopefully be a formality. The delays previously have been getting a viable business plan approved. That's now happened.
Rodney Berman also announced that as part of the plans, a sports academy for young people will be set up using funds from the club.
"I am delighted to announce that an exciting new agreement has been reached with the club that if they play in the Premiership, they will make a £250,000 contribution each year to a bursary which will be administered by CCFC and the council," said Mr Berman.
"A £100,000 donation will be made each year while the club plays in the Championship.
"This funding will be dedicated to developing footballing skills amongst schoolchildren and young people in Cardiff and the surrounding region through a sports academy."