Everton expect to announce their plans to move to a new stadium within three months, chief executive Robert Elstone has told the club’s General Meeting.
Relocating to a waterfront venue in the Bramley-Moore Dock remains the Blues’ preferred option as they seek a successor to their current Goodison Park home.
Negotiations with site owners Peel Holdings are ongoing while the Mayor of Liverpool has vowed that Liverpool City Council will assist the club’s efforts.
Another site in Stonebridge Cross is also under consideration but the Bramley-Moore site firmly remains Everton’s first choice when relocating.
“We have looked at planning and transport issues,” said Elstone.
“One site is more favourable. The opportunities are much greater at that sight but so are the costs.
“We have to find answers to some of the uncertainties and risks because it is the biggest decision the club will ever make.”
Mayor Joe Anderson confirmed the council’s commitment after he was asked by chairman Bill Kenwright to address shareholders at the city’s Philharmonic Hall.
He said: “Everybody in this room wants the waterfront site.
“We have got ‘Plan Bs’ but everyone is working exhaustingly hard to deliver the site you all want.
“It is a unique opportunity to seize so we will be supporting the club. This is the most exciting opportunity this club has had in decades.
“We will make sure it is developed and it happens along with the leadership there and with me working alongside Everton FC.”