Plymouth City Council have agreed to buy back Home Park as part of James Brent's proposed takeover of Plymouth Argyle.
The council, who originally sold the ground to Argyle in 2006 for £2.7million, will pay £1.6million for it and will receive an annual rent of £135,000, which will rise by 150% if Argyle reach the Championship and by 300% if they were to rise to the Premiership, as part of the package.
Brent's takeover is currently awaiting final approval from the Football League, which could be completed by Saturday's home game with Swindon Town.