The Edinburgh club had been looking into a move to Straiton, on the city's outskirts, as they grapple with a debt of some �15m.

A ground-sharing proposal with city rivals Hearts was also raised in the summer, but the issue is now dead with Hibs vowing to stay on at their traditional home.

Hibs have been playing home games at Easter Road for 110 years and have installed three new stands at an estimated cost of �11m in recent times.

"This is the news supporters of the club have been waiting for," said Hibs chief executive Rod Petrie in a statement.

"While we have an obligation to look at every viable option put before us, we have consistently stated that staying at Easter Road is our preferred option - providing we can find a way to do that and break even."

It had been suggested that Hibs could raise funds through the sale of Easter Road, with its central location certain to interest property developers.

But the club are confident that a new business plan can be put in place to address the financial future, although there are no details of the steps to be taken.

Williamson to accept pay cut

Hibs have made substantial cuts in their wage bill by reducing the player pool in recent seasons and are believed to be in the process of renegotiating manager Bobby Williamson's terms, which will see him take a drop in salary.

"We believe the outline business plan can help us deliver that goal (breaking even)," Petrie continued.

"But now we truly need supporters to rally behind the club and make it happen."

A crowd of just over 7000 turned out for Saturday's win over Kilmarnock and the hard-up club are desperate for increased gates.

Season ticket sales were poor as fans expressed their dissaproval of a move away from Easter Road and talk of cohabitation with Hearts.

And indifferent home form early in the season has done little to attract crowds.

"We thank those that have turned out and urge those who have stayed away to come back and help the club," said chairman Ken Lewandowski.

Hibs plan to outline their new strategy at the annual meeting scheduled for 4 November.

A Hearts spokesman said that they had been expecting the Hibs announcement and had recently been concentrating on negotiations with the Scottish Rugby Union about using the national rugby stadium at Murrayfield.