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Thursday
November 8, 2007
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Premier League Club Liverpool Gets Go-Ahead For New Stadium

Liverpool Receives Approval To
Begin Construction On New Stadium

English Premier League club Liverpool has received permission by the Liverpool City Council to build a new US$841.7M stadium with a potential capacity of 76,000, according to Patrick Nathanson of the London TELEGRAPH. Liverpool said that construction "can begin almost immediately and it is hoped it will be ready for use in 2010." The new stadium will hold 60,000 "but further applications to add seats may be made." The field will be sunk 26 feet into the ground to allow more fans "to be accommodated around the pitch." It also will contain 114 suites (London TELEGRAPH, 11/7). The number of suites is twice the number of the stadium's original design (ESPNSOCCERNET.com, 11/6). In Manchester, Andy Hunter reported Liverpool co-Owners Tom Hicks and George Gillett are seeking a US$1.05B loan "to cover the escalating costs of the new stadium and refinance" the US$627.07M loan they received from the Royal Bank of Scotland to buy the club. Hunter noted the move has "raised suspicions that Liverpool's new owners are [Manchester United Owners] Glazers by stealth." However, it was "always their intention to borrow to build the stadium" (Manchester GUARDIAN, 11/6).

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