Worcester City have revealed they are set to receive just £3.5million for St George’s Lane.

Chairman Anthony Hampson last Saturday confirmed to supporters that the sale price of the Lane had dropped by around half from the originally stated £7.36m.

In a report released by director David Hallmark, the club said Careys New Homes were ready to agree a new deal worth £3.5m by the end of November.

City have also been in talks with developers Cala Homes and Bloor Homes over the purchase of their current ground but Careys remain favourites.

The Wembley-based firm are still to revise their planning application after deferring a bid for 98 homes following Worcester City Council’s recommendation for refusal. The application to build on the Lane would lose the social housing concession if it were refused or abandoned.

A planning application for Nunnery Way from St Mod-wen is still on-going and the council now don’t expect it to be heard until January 2010 at the earliest. In addition, the Highways Agency issue over pedestrian access via a bridge is still unresolved.

The statement also confirmed the club are looking at using Fleetwood Town’s stadium redevelopment as a basis for a new home.

A fans forum will be held in the Harry Knowles Lounge following tomorrow's home match against Dover Athletic.