Stradey is one of the most famous venues in world rugby

The Scarlets are thought to be embarking on a joint venture with Carmathenshire County Council to build the new venue.

Stradey Park has become one of the most feared and revered rugby stadiums in the world in the course of its 100-year history.

The region will announce their plans at a press conference on Thursday.

The new stadium is expected to have better links to the M4 motorway and extensive hospitality facilities, something badly lacking at the current venue.

But for the move to go ahead it will also require a deal being struck with the Welsh Rugby Union who own much of the land at Stradey, a legacy of the club's near-bankruptcy in the mid-nineties.