The Arizona Diamondbacks continue to explore options for a new stadium, according to a report by JohnWallStreet, which cited "a source with knowledge of the ownership's thoughts."

The report by the site, which specializes in sports and finance, suggests the Diamondbacks, who have been linked to relocation rumors, are "highly likely to remain in Arizona."

From the report: "A source with knowledge of ownership’s thoughts tells JohnWallStreet that the construction of a new venue within the state remains the most likely outcome. It is possible that the club will decide to invest in a major renovation of Chase Field, but that is considered a less desirable solution. The franchise will only explore relocation once all other avenues have been exhausted."

The Diamondbacks conducted an engineering assessment to explore the viability of retrofitting State Farm Stadium, home of the Cardinals, in order to play there, according to the report.

A Diamondbacks spokesperson confirmed on Friday that the team had looked into the possibility of using State Farm Stadium as an emergency home if for some reason Chase Field was not usable, but it was deemed that it was not an option.

More from the report: "The building has many of the physical attributes the team desires (see: capacity, climate control), but it was determined that the Cardinals’ home would require an investment of at least $100 million before it could house a baseball team on a temporary basis; the club does not believe the building can play host to both a football team and a baseball team full-time. To be clear, had the price been $25 million the franchise would have at least considered the venue as a temporary home."

A recent report from the Las Vegas Review-Journal revealed the Diamondbacks' connection to a stadium development plan in Henderson, Nevada.

Although, Diamondbacks CEO Derrick Hall did respond to the report saying: "At the end of day, this is where we are and this is where I want to be."

Reducing the seating capacity at Chase Field has also been discussed as a possibility for the Diamondbacks.

According to the JohnWallStreet report, a source familiar with MLB expansion/relocation discussions cited Montreal, Nashville, Vancouver, Charlotte, San Antonio and the Tidewater region of Virginia, in addition to Henderson as seven locations capable of supporting a pro baseball team.

The Diamondbacks can leave Chase Field and end the team's 20-year residence at the downtown Phoenix stadium as early as 2022, according to an agreement struck with the Maricopa County Board of Supervisors in May 2018.

The county Board of Supervisors passed the agreement 4-1 a week after making the deal public, ending a longstanding lawsuit. It allows the team to immediately start looking for another home in exchange for dropping its demand for the county to pay up to $187 million in stadium upgrades.

Under the agreement, if the Diamondbacks found a new location in Maricopa County, the team could leave Chase Field without penalty in 2022, five years earlier than the team's current contract.

In May 2019, an architectural firm appeared to have accidentally offered a sneak peek at what the home of the Diamondbacks could look like if the team leaves Chase Field when it posted renderings on its site.

The renderings were taken down and the Diamondbacks downplayed the images. They also don't appear to be related to this latest development in Nevada.

Notable moments at Chase Field