Credit crunch delays Liverpool´s new stadium

October 5, 2008

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Liverpool chief executive Rick Parry admitted on Sunday that the Premier League club's new stadium will not be built until the global credit crunch eases.

The Reds are planning to move out of Anfield to a new site at near-by Stanley Park, but the work has ground to a halt because of the financial turmoil engulfing banks and businesses across the world.

It is expected that the project will get back underway in the next year or so and Parry ruled out speculation that Liverpool may opt to share the new stadium with local rivals Everton to spread the burden of the cost.

Parry told BBC Five Live's Sportsweek: “With the financial markets in the turmoil as they are, any major construction project at this time is difficult, it is risky.

“It is a case of a delay while things settle down, it is still a very, very good long term project. The economics of it still make underlying sense.

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

“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.”

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