Everton have exchanged contracts on the land for Bramley Moore Dock.
A 200-year lease was agreed between the Blues and site owners Peel Ports for the disused dockland on the Liverpool waterfront for the club’s new stadium.
The signing of the agreement is a significant step in Everton’s plans to move to a purpose-built arena that will serve as a long-term successor to Goodison Park.
Chief executive Robert Elstone revealed on Thursday that designs for the new stadium are likely to be put forward at the beginning of 2018.
He said: “Clearly this is very positive news.
“Gaining control of the site was essential for us to be able to move forward with the next stages of the project – finalising the funding agreement with the Council and preparing for the submission of a planning application – both of which we hope to do in the New Year.
“I’d like to thank Peel as well as Mayor Anderson and his colleagues at the Council for their support in getting us to this point.”
Everton’s proposed new stadium is set to from a catalyst of the £5.5 billion regeneration proposals for the local area with the Liverpool Waters project.
CBRE, acting as advisers to the club for the project, have forecast that the new Bramley Moore stadium will provide a £1bn boost to the local economy.
Ian Pollitt, assistant project director at Liverpool Waters, said: “2017 has been a landmark year for Liverpool Waters with a series of planning permissions granted for both Princes Dock and Central Dock, including the plans for a new cruise terminal and a collection of residential developments.
“We know that a world-class stadium, on the banks of the River Mersey, will act as a trigger for even more investment and jobs which will be of huge benefit to the whole city region.
“We’ve been working very closely with all partners to get to this stage and we’re excited to move on to the next phase of the project.”