The US takeover of Liverpool Football Club is being hailed by the city council as a major step forward for the regeneration of the Anfield area.
The club aims to open the stadium in time for the 2009/10 season
American tycoons George Gillett and Tom Hicks agreed to make funds available to build the new stadium in Stanley Park as part of the deal.
The £215m project is expected to bring new community facilities, jobs, homes and business to Anfield and Breckfield.
Council leader Warren Bradley said it was "fantastic news" for the area.
"For too long the area has been in decline and I am hopeful that it is now full steam ahead for this amazing project which will give local people a much better life," said Mr Bradley.
"The club will get a brand new state-of-the-art stadium, Stanley Park will be restored to its former glory with new community facilities and the area will be completely regenerated with new homes and businesses."
Mr Bradley said he looked forward to meeting with the new owners to share the council's hopes and aspirations for the area.
Under the current proposals, the existing stadium will be redeveloped to become Anfield Plaza - a mix of shops, offices, homes, a hotel, and a new public open space.
The project is estimated to create 766 permanent jobs and 260 construction jobs, as well as boosting tourism numbers.
The new stadium is due to open at the start of the 2009/10 Premiership season.