Reds get stadium boost
28 Sep 2006 - 16:03:15
Liverpool's plans to build a new 60,000-seater stadium received a major boost when the project was handed £9million of European funding.
The decision to give the money to the Reds was made at a meeting of the Objective One Project Selection Committee on Thursday, at which the club had to demonstrate it had the funds in place for the full £180million cost of the project.
The Objective One cash will be put towards regenerating community facilities in the local area rather than the cost of building the stadium itself.
The club's plans for the development include the restoration of Stanley Park, where the stadium will be built, and a shopping plaza on the site of their current Anfield home.
The investment in the local area was a condition of the planning permission for the scheme and obtaining the EU grant was one of the biggest hurdles the club had to overcome before pressing ahead with the project.
Chief executive Rick Parry told the club's official website: "The committee's decision is very good news for the people of North Liverpool.
"It's another significant step forward in our plans for the building of a new stadium, which we have always seen as a catalyst for the regeneration of the whole area."