Barcelona president Sandro Rosell has said that the club's board of directors have rejected the option of building a new stadium and decided to go ahead with a remodelling of the Nou Camp.
Barcelona members, who collectively own the Catalan club, will be given a chance at the beginning of April to vote on the proposal that would increase the capacity of Europe's biggest stadium from 98 000 to 105 000 and help boost matchday revenue, Rosell said.
The remodelling project is expected to cost around 600 million euros and work would begin in 2017 and be completed by early 2021.
Matches would still be played while the work, which would see a striking new roof added to the current structure, was carried out, Sport24 reports.
There would be new restaurants with a view of the pitch and so-called super boxes and other VIP services.