Riverside Stadium is to be demolished and returned to a greenfield under new plans submitted to the local council.
Institute Football Club formally submitted the plans to Derry City and Strabane District Council earlier this week.
Under the proposals, all physical infrastructure located within the stadium will be demolished, including turnstiles, spectator stands, floodlighting and seating.
The stadium, which is located in Drumahoe, was severely damaged in August 2017 after a substantial flood in the area.
Local people in the area were given the chance last summer to take part in a consultation over the proposals.
In details submitted to the council, the club said expressions of sadness and a sense of loss at the prospect of the club not returning to the Riverside Stadium were among some of the responses.
Meanwhile, locals also voiced their support for a new "long-term, stadium solution" to be located in the Waterside area of Derry.
Issuing a statement in support of the demolition application, MCI Planning & Development Ltd said "great care" would be taken to limit as much disruption in the local area as possible.
It read: "The Riverside Stadium will be carefully deconstructed and dismantled to minimise damage and maximise what can be salvaged.
"This approach will undoubtedly take more time however the benefits extend beyond the salvaging of materials as a ‘soft teardown’ will help to reduce the risk of pollution from dust and debris.
"The dismantling of the Riverside Stadium will facilitate the recycling of materials. Much of the waste materials like concrete, wood, metals, electrical cables can all be recycled.
"This will be aided by providing clearly labelled recycling bins throughout the site to make the whole process easier and more accessible for the contractor."
