Oldham Borough Council have approved Oldham's revised plans for the redevelopment of Boundary Park. Last month, councillors rejected the original proposals, raising fears about the future of the League One club.
But amended plans were last night approved by a vote of 10-1 at Oldham Civic Centre.
Hundreds of flats, a hotel and a leisure centre will now be built at the Boundary Park site in a scheme estimated to cost around �80m.
One of the club's trio of American-based owners, Simon Corney, paid the tribute to the Latics fans who campaigned vigorously for the scheme to be approved.
Corney said: "They've given us a wonderful show of support. The way they have come together has made it feel like we are one big family and now we want to go places.
"We couldn't be happier; this is like getting 12 points in the league all in one go!
"We're very pleased. This was the right decision, and I hope we can do the town proud and create something special.
"This is the culmination of four years' hard work by everyone. People within the Council have helped us tremendously, as have individuals inside and outside the club.
"And the response from people who don't really work for the club but have some kind of attachment or involvement has been phenomenal."
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