Liverpool Stadium Delayed By Credit Crunch, Will Still Be Built

Liverpool FC Stadium Delayed By Credit Crunch, But Still Scheduled To Be Completed

English Premier League club Liverpool FC CEO Rick Parry said that the team's new stadium at Stanley Park "will still be built," but work on the project "has come to a halt following a decision to delay the building, maybe for a year, because of the credit squeeze," according to Emily Benammar of the London TELEGRAPH. Parry: "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." Parry added, "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" (TELEGRAPH.co.uk, 10/5).