It comes after a loss of £2.8m for the 2008-09 financial year, announced on Tuesday, and the likelihood of reduced revenue following relegation to League One.
Under their plan, Home Park will be sold to Plymouth Argyle Football Company Holdings Limited for £7.5m. They said the ground was valued at that price by an independent estimate in February.
"These actions are aimed at reducing debt levels in PAFC and thus strengthening its balance sheet,” read a club statement.
“In addition, they should provide a basis for commercial property and development finance to be raised in order to develop the stadium in support of the club's ambitions, as well as Plymouth's support for England's bid to host the 2018/22 World Cup."
The south-coast club have struggled financially this year, with the Football League putting them under a transfer embargo in December due to unpaid debts. That was lifted in January.
Plymouth Argyle hope to raise around £9.5million through a share issue and sale of their stadium to their holding company. | 
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