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Institute FC hope they can receive a share of stadium funding from Stormont to fulfil plans for a new home ground in the Waterside area of Londonderry.

They were forced to leave the Riverside Stadium in Drumahoe in 2017 after it was devastated by floods and subsequently infested with Japanese knotweed.

Last week, long-awaited funding to upgrade stadiums across Northern Ireland was launched.

A large share of the £36.2m is expected to be allocated to clubs in the Northern Ireland Football League (NIFL).

Glentoran, Cliftonville and Coleraine are among the teams hoping for financial assistance.

Previously, Derry City's chief executive, Sean Barrett, said he was confident that their club was eligible for a share of the money.

Institute currently share a ground with League Of Ireland side Derry City FC at the Ryan McBride Brandywell Stadium.

Institute FC director Gary Forth also told ³ÉÈËÂÛ̳ Radio Foyle's North West Today programme their club, like many others, was hopeful for a share of the funding.

Mr Forth said if they were successful, it could help them realise their dream of returning to the Waterside to a multi-purpose football stadium at Clooney Park West.

"Institute are in a real position of need to have their own stadium," Mr Forth said.

"Our chairman Bill Anderson was at the event at Windsor Park last week.

"All of the details of the criteria [for funding] has not been laid out yet, but at surface level, there is a massive need for us to have our own stadium and be re-ingrained in the centre of the Waterside."

Mr Forth said they were hopeful funding can help them realise their plans, which are already in motion.

The club are hopeful they will be in a position to submit a planning application for their new ground in the Waterside "imminently", he said.

"We have to be a Waterside club again and do something again for the community there."