The Latics will sell their home of more than 100 years and relocate to a 12,000-capacity ground at a 30-acre complex in nearby Failsworth.
Managing director and co-owner Simon Corney said: "We haven't taken the decision to leave Boundary Park lightly - it was our preferred option to redevelop it - but the credit crunch means the land value and market conditions have diminished to an extent which makes that
scheme no longer financially viable.
"In it's current state Oldham Athletic is dying. Our revenue fell 20% again last year and we are now attracting attendances on a par with many League Two clubs.
"This new vision gives us an opportunity to provide a facility that will create new revenue streams to make the club financially viable and self-sustaining."