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Page last updated at 12:03 GMT, Sunday, 5 October 2008 13:03 UK

Liverpool stadium plans on hold

Liverpool chief executive Rick Parry
The stadium in Stanley Park was expected to be finished by August 2011

Liverpool chief executive Rick Parry says the club's 350m new stadium will be built - but only after the current financial crisis stabilises.

Parry dismissed any suggestions that Liverpool would consider a ground share with Everton to speed up the process.

He told BBC Sport: "It is a case of a delay while things settle down. It's still a good long-term project.

"With the financial markets in turmoil, any major construction project at this time is difficult, it is risky."

With some commentators predicting that the economic downturn could continue for a year or two it is unclear when Liverpool will begin work on the stadium, which was expected to be finished by August 2011.

However, Parry told Radio 5 Live's Sportsweek programme that a ground share with Merseyside rivals Everton, who are planning on building a new stadium in Kirkby, was "not being considered".

"I do not see any change in direction or any change in plans, and ground share is not back on the agenda," he added.

"The point is, at this moment it is not the most sensible time to be borrowing huge amounts of money with the markets in turmoil. That will settle down and availability of money will increase.

"The project makes long-term sense, it is the supply of money that is an issue - that will correct itself in time."

Reports in the summer had suggested Liverpool's American co-owners Tom Hicks and George Gillett were struggling to raise funds for the next stage of the project, with a Liverpool spokesman saying the project had been "affected by global market conditions".

Liverpool's plans for their new home, which was expected to have a 60,000 capacity, were approved by the city council in May and the enabling work has already started in and around Stanley Park.

The latest delay could further antagonise some of the Liverpool supporters who have become increasingly frustrated by the way the club is being run. The Spirit of Shankly group organised a march in protest against Hicks and Gillett before the recent 2-1 victory at home to Manchester United.

During the summer Gillett had spoken about how the relationship between himself and Hicks had become "unworkable", before saying in June that communication had "substantially improved".

Graphic of Stanley Park exterior
Liverpool's stadium plans appear to have been hit by the credit crunch

Parry said that a takeover of the club was unlikely to happen in the near future.

"It has gone quiet and everyone is delighted," he said. "The focus at Liverpool should only ever be on football.

"All is relatively stable, I am not aware of anything that is happening regarding the sale of the club at this moment. My focus is on day-to-day things and making sure we deliver.

"I am not sure of anything going on, it is a question best directed to the owners. As far as I am concerned we are focusing on things that we can control.

"We are trying to do the very best to produce a team that performs on the pitch."

see also
Liverpool stadium faces new delay
29 Aug 08 |  Liverpool
Liverpool stadium plans approved
06 May 08 |  Merseyside
No inquiry for Reds' new stadium
08 Jan 08 |  Merseyside
Liverpool's stadium move granted
06 Nov 07 |  Merseyside
Aldridge raises Liverpool concern
03 Oct 08 |  Liverpool
Liverpool supporters hold protest
13 Sep 08 |  Liverpool
Liverpool pair attempt peace pact
20 Jun 08 |  Liverpool
Liverpool co-owner reveals split
28 Mar 08 |  Liverpool
Duo complete Liverpool takeover
27 Mar 07 |  Liverpool

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