Speaking at Wednesday evening's fans' forum in The Pilgrim Lounge, Mr Newton also confirmed that building work is set to begin on the club's new Community Stadium at The Quadrant — with the aim for it to be ready for the 2020-2021 season.
The Pilgrims currently have a new lease in place at The Jakemans Stadium for next season (2019-2020) but the United chairman admitted it is unlikely to be extended any further.
"After a lot of thought and looking at numbers, subject to the Homes England funding being secured over the next few weeks, we will start work," he said in front of a 150-strong forum audience.
"We are starting because we are confident the other funding will come through."
On the subject of the current ground, Mr Newton added: "We have renewed the lease on York Street for the coming season.
"It's 99 percent certain it will not be renewed again. All the way through we have been relying on the Malkinson family and they have been great.
"We had to go to them again this year and say we needed a new lease and understandably they were not too happy.
"If they get a buyer for the ground they will not renew the lease again and I do not want anyone to think bad of the Malkinsons. They have done really well for us."
United vice-chairman Neil Kempster, director and record goalscorer Chris Cook and first team manager Craig Elliott were the other members of Wednesday's forum panel.
Updated 09:18 - 11 Apr 2019 by Craig Singleton