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Reds stadium shelved

By David Maddock 15/12/2007

Liverpool are poised to scrap plans for a new stadium after a bid to borrow £700million to fund the development was hit by the credit crunch devastating money markets.

The club's American owners George Gillett and Tom Hicks will be forced to settle for a smaller loan.

That will mean an embarrassing U-turn on the proposal for a 76,000-seater arena and leave less cash for manager Rafa Benitez to spend in the transfer market.

It is not the news Benitez will want to hear as he prepares his team for their crucial Premier League clash with Manchester United tomorrow and plans for a long-anticipated meeting with the US duo on Monday.

Hicks had asked his Texan architects to rejig the designs for a replace for Anfield, with revenue generation a key element in the new £400m scheme.

But they will have to go back to an initial 60,000-seat plan or redesign again on a much smaller scale.

 

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Oh dear the money pinch is already beginning to stretch the purse strings. :)

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Confirmed...

 

Liverpool downgrade stadium plan

 

Liverpool chief executive Rick Parry says spiralling costs have forced the club to scale back plans for a futuristic new stadium.

The Reds are still committed to building a new 70,000-capacity ground.

 

But Parry said the design would be "slightly downgraded" from plans released earlier this year.

 

"It will be a massive improvement on where we were 12 months ago, if not quite as dramatic as the plans unveiled in the summer," said Parry.

 

We are now considering two schemes but the stadium will be a 70,000-seater.

 

"The new stadium will be a significant improvement on the original plans and a slightly downgraded version of the new ones.

 

"The single tier Kop remains fundamental to the design and we are not expecting any delays - it should be on schedule for 2011."

 

The cost for the proposed stadium in Stanley Park was estimated at £400m, but that figure is now set to be reduced.

 

 

 

 

 

 

 

 

 

 

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