Liverpool's stadium plans in jeopardy
2008-07-01
The head of the North West Development Agency (NWDA) has refused to hand over a £9 million grant for Liverpool FC's new stadium project.Doubt has been cast on the Liverpool owners' ability to raise the £350 million need to begin the project, leading to the NWDA chief executive to ask for detailed evidence that funding is in place for the project.
Last week, the club started preparatory works on its 60,000-capacity stadium on Stanley Park, which it is hoped will be ready for opening in three years time.
Steve Broomhead, chief executive of the NWDA, told the Liverpool Daily Post: "The NWDAs grant has always been dependent upon the club demonstrating that funding for the new stadium has been fully secured and we are currently awaiting detailed evidence that this is in place.
"Until this time, the agency will retain its £9m investment towards the project."
Liverpool's American owners Tom Hicks and George Gillette bought the club in 2007 and in January this year announced that a £350m refinancing package had been sought - in which it is understood there was £60 million included to get work started on the stadium.
