But council bosses must first decide whether they can afford to build a 12,000-capacity venue and whether it will be financially viable to run in the long term.

Wakefield Council’s cabinet will consider a report on the stadium scheme on April 8, which will put forward locations and building costs – which could be £40m.

A site covering the existing Wakefield College Thornes Park campus, its car park and adjacent playing fields has been identified as a location for the stadium.

Other sites include the existing college buildings or playing fields.

Andrew Wallhead, corporate director for regeneration, said: “The report says this project is possible and asks the council if it wants to move on to the next stage, which is the business plan.

“What it’s not going to do is ask the cabinet to commit capital funding just yet. We own some of the land and may have to acquire other land, but no deals have been done.”

Wakefield Wildcats, who will be tenants at the stadium, need to find a new home to meet the Super League’s franchise requirements in 2011-12.

Francis Stephenson, Wildcats’ general manager of the Belle Vue club, said they would have to wait and see what happened, but felt confident of securing the latest Super League franchise from 2008-09.

Mr Wallhead said he hoped a stadium could be built by 2011-12, with a swimming pool completed as part of the first phase.