Scunthorpe have a "50-50" chance of relocating to a brand new stadium in the next few years, according to chairman Steve Wharton.

Wharton is keen for the club to move away from Glanford Park, but concedes the current credit crunch could curtail any plans.

"I had a meeting with the council this week and I still believe that chances of a new stadium are 50-50," Wharton told the Scunthorpe Telegraph.

"But the recession - and my health - have made it from my point of view more difficult.

"I do want to take this club to a new stadium - but only if it can be done without putting us into heavy debt.

"It is all about the economic climate and I can do nothing about the current recession."