Bournemouth have agreed a deal to buy back the Vitality Stadium and plan to expand it, says owner Bill Foley.

The Cherries, then in League One, sold the ground known then as Dean Court in 2005 to property company Structadene for £3.5m before leasing it back. That was to help them pay off some of their £6.5m debts.

They have tried and failed to buy it back several times since, but Foley made the announcement of the deal at the official opening of the club's £32m training facility.

With a capacity of 11,307, the Vitality Stadium is by far the smallest Premier League ground.

But American Foley said they are now talking to the council and moving forward with plans to redevelop the stadium, which was first opened in 1910.

He added they are planning to expand the ground to 20,000 seats in the next two and a half years - and could go further to 23,000 - and do not need to close the stadium to do so.

Foley also revealed building a new stadium would have taken five or six years.

The Vitality Stadium will be officially owned by a new entity called Black Knight Stadium Limited - named after Foley's company which owns the club.

"This acquisition is a strategic and logical step as we pursue AFC Bournemouth's and Black Knight Football Club's continued ambitions," said Foley.

"We have acknowledged that accommodating more of our growing fanbase is integral to our goals for the club, and this move will allow us to pursue all options moving forward.

"We appreciate Structadene's stewardship of the stadium and for working with us to return it to its natural home with the club."

Bournemouth technical director Simon Francis says they could "end up being a victim of our own success" this summer with clubs wanting their players.

The Cherries are eighth in the Premier League and have had some star performers this season, including defender Dean Huijsen.

"There will be bigger teams circling around and looking at some of our players," Francis told BBC Radio Solent.

"There will be some situations we can't control but there will be others that we can.

"I'm confident that if we finish well this season and that could mean European football, then the players will be excited about that. It would be historic.

"But there will also be some players that want to go and play for some of the biggest teams in the world and sometimes you can't stand in their way."

Spain international Huijsen, 20, is the subject of genuine interest from Chelsea, Liverpool, Arsenal and Newcastle.

The defender, a summer signing from Juventus, is thought to have a £50m release clause.

Francis added: "It will be a conversation for the summer. Of course, if you ask me then I think the best place for him over the next two and three years is here at Bournemouth. Play every single game, potentially in Europe and then take your pick of the clubs."