Premiership rugby union club Saracens has revealed plans for a multi-million pound transformation of Copthall Stadium in Barnet, North London.

The club announced it will be holding "detailed discussions" with the London Borough of Barnet over its proposals, which would see the venue significantly enhanced. Saracens' plans include a complete overhaul of the existing main building and the construction of a new East Stand to be used by rugby and athletics spectators. An artificial turf pitch is also mooted under the proposals.

'Demountable' stands would also be installed during winter months to increase capacity from 3,000 to 10,000 for rugby fixtures in accordance with Premiership Rugby standards. The stadium is currently home to Shaftesbury Barnet Harriers athletics club, and Saracens aims to help establish a 'premier' athletics venue and potential 2012 Olympic training venue.

Saracens chair Nigel Wray said: "Shaftesbury Barnet Harriers would thrive, Saracens would use the artificial turf pitch around 16 times per year, and the rest of the time - up to 350 days per year - the field could be used by schools, local clubs and the wider community. "Barnet Copthall would also become a new hub for the award-winning Saracens Foundation, which has been working with more than 500,000 young people in London over the past decade, improving lives by running various courses that link education and sport."

Lynne Hillan, leader of the London Borough of Barnet, added: "We have had very early talks with Saracens and the idea of supporting top flight sport in the borough, while improving facilities for other sports, is obviously appealing. "However, I'd like to stress that no deal has been done and that, as the local planning authority, the Council would consider with any application entirely on its planning merits."

Watford Football Club has confirmed Saracens will leave its Vicarage Road ground, while Barnet Football Club - which had been interested in moving to Copthall Stadium said it wouldn't comment ahead with forthcoming talks with Hillan.