Sarries were given notice in August that they would need to vacate their long-standing home at the end of this season as Argyle were going to purchase the site to build a training facility.
But the Pilgrims have now decided not to buy the Ernesettle-based venue and have instead turned their attentions to purchasing Goals Plymouth close to their ground.
Devon West leaders Saracens are still waiting to hear what that means for them, but they are hoping that it may mean they can stay at the Parkway as they have so far not been able to find a suitable new venue in the city.
“As yet we don’t know what the plans are for the Parkway,” said Tamar Saracens chairman Dan Leeson.
“I have a thousand questions to ask. We just don’t know yet where we stand as a rugby club. I don’t know if they have other buyers lined up.
“But there might now be potential for us to stay there.
“Our future possibly looks a bit more rosier than it did but until we hear otherwise we are not any better off.
“We will continue to explore options until we hear otherwise.”
Although the team are sitting at the top of Devon West, Leeson admits it has been tough for the club this season with all the uncertainty around their future.
“It is very difficult to fire players up to come and play rugby for you when by the end of the season you might not exist,” said Leeson.