Liverpool stadium plan is mothballed

Last Modified: 06 Oct 2008
Source: ITN

Liverpool chief executive Rick Parry has admitted the club's planned stadium has been put on hold.

Construction machinery was moved into Stanley Park earlier this year and it seemed building work would soon begin.

But the diggers have been dormant and Parry confirmed the plans have been hit by the credit crunch.

He said: "With the financial markets in the turmoil as they are, any major construction project at this time is difficult, it is risky. It is a case of a delay while things settle down, it is still a very, very good long term project. The economics of it still make underlying sense.

"I do not see any change in direction or any change in plans, and ground share is not back on the agenda. The point is, at this moment it is not the most sensible time to be borrowing huge amounts of money with the markets in turmoil. That will settle down and availability of money will increase.

"The project makes long term sense, it is the supply of money that is an issue, that will correct itself in time."

Liverpool's neighbours Everton are also hoping to build a stadium but a vocal part of their support has questioned the effect on the club's long-term finances.

With both clubs considering building, it has been suggested they could share the stadium in Stanley Park, but Parry insists that is not part of Liverpool's plans.

He added: "Ground share is not being considered."

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