Everton face an ‘enormous’ task financially if plans for a new stadium are to go ahead, according to Paul Joyce of the Daily Express.
After two previous plans collapsed in 2003 and 2009, the latest bid sees Walton Hall Park as the proposed destination of the new stadium, a mile away from current home, Goodison Park.
Liverpool City Council have stated that they are keen on the move, as it would help a proposed project to regenerate the Northern regions of the city.
A council spokesman even stated: “We want to see Everton achieve their ambitions by delivering a new stadium.”
However, they will not fund any money towards the new stadium, meaning the football club must somehow finance the move of their own accord.
Toffees CEO Robert Elstone has declined to comment on the matter, but a re-development of Goodison has already been ruled out.
A naming-rights deal reportedly would not to enough to cover the cost.
Current Owner Bill Kenwright has a net spend of just over £10million over the last five seasons, and is still looking to sell the club.
If a new buyer comes in, then they will need to pay off the debt, which is stated as £40 million by the Daily Express, before any further stadium developments can be made.
