Everton have agreed a finance model for their new stadium at Bramley Moore Dock.
Liverpool City Council are set to approve plans for a Special Purpose Vehicle (SPV) next week to facilitate the Blues’ move to the waterfront venue.
A deal has already been struck with developers Peel Holdings for the land on Bramley Moore, understood to be less than the original £30 million asking price.
Building costs of the stadium is estimated to cost £300m and will be entirely funded by the club, with the city council acting as a guarantor for the finances.
The Mayor of Liverpool’s recommendation report has outlined planning for Everton’s proposed 50,000 seater stadium on the banks of the River Mersey.
Planning application is expected to be submitted by the end of 2017, allowing the club to begin the countdown to leaving its spiritual Goodison Park home.
Everton chief executive Robert Elstone said: “We can now move forward into the next phase of work with much greater confidence.
“Clearly, it is vital we have clarity on cost and we have to recognise that the stadium will be significantly more expensive at Bramley Moore Dock.
“To get that certainty, and ensure the stadium is affordable, we need to confirm stadium design, capacity and configuration.
“And to do that, we need to talk to fans, partners and all stakeholders in the project. We’re committing to that consultation.
“We’re also committed to keep fans fully informed as the project develops and as other milestones are reached.
“We’re keen to stress not only the scale of the work ahead but also the remaining risks and uncertainties.
“We’re delighted we’ve secured the site and we’re equally delighted the Mayor is continuing to support our financing model.
“But significant hurdles remain, not least the preparation and submission of a detailed planning application.
“Receipt of a successful planning approval at some point early next year will be the most significant step towards bringing the stadium to life.”