Bournemouth are to start looking for a site to build a new stadium away Dean Court for the start of the 2020-21 season.
Chief executive Neill Blake issued a statement on Friday afternoon confirming the club board had taken the decision following on-going discussions over plans to develop the 11,464-capacity Vitality Stadium with owners Structadene and Bournemouth Borough Council.
The Cherries won three promotions in six seasons to rise from League Two into the top flight of English football for the first time under manager Eddie Howe in 2015 before then retaining their Premier League status.
A club statement read: 'The shareholders want to create a legacy of Bournemouth becoming an established Premier League club in a stadium which is befitting of our status, and we believe that building a new stadium on a new site will allow us to deliver that.