Chairman Peter Sidwell told the Herald-Sun: "Our research shows there is clearly room for a second club.
"There is a huge cultural background here."
Sidwell has no soccer background himself, but says he is passionate about the game.
"I have an absolute belief in the game. It will never replace Aussie rules but we will run a very good second in the future," he said.
Sidwell said the club would roll out its plans very soon.
"We have been restricted in what we can do but now you'll see a lot of real activity," he said.