The Bowl in Douglas could be converted into a new national sports stadium, at a cost of two and a half million pounds.
Proposals, including a new pitch, canopy stands and fold-up seating for up to 4,000 people, have been put to the Department of Tourism and Leisure, as a first step towards securing funding.
Council Leader David Christian says the catalyst is the Commonwealth Youth Games, due to be held in the Isle of Man in 2011.
He says the cost is too high to be covered by rate payers alone, and he's urging everybody with an interest in the project to get things moving as soon as possible:
(Picture: How the Bowl could look with a covered canopy, of the type planned for each side of the ground).